Here reason for short price create many liquidity/EQL below side and after done BMS price back at re-test level which is OTE+FVG.
If price will rejected from here i believe it will drop hard in coming days.
As you can in this chart price back at supply zone.
price could rejected but have some behind works, until USDCAD pump or USDCHF drop CADCHF will not work.
but the PA is already explain in chart let's see if we rejected.
As you can see CADJPY did clean BMS and also perfectly test daily and 4h demand and push up as well.
but as HTF view it's re-test for another drop, we currently daily supply supply with under4h supply possible going to rejected from here
Here the reason for short is SMT.
If you compare AUDUSD and NZDUSD you can see the difference,
AUDUSD makes hH while NU make HL
so HERE AUDUSD we drop too
The invalidation for now for both is Pre day high with an extra 15-20pips SL.
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