AUDNZD is currently trading within a range, exhibiting a pattern of continuous higher lows, indicating a potential buildup for bullish momentum. However, a significant downward move below this range could signal a continuation of the previous downtrend, which might be mitigated by a major daily support level. It is advisable to wait and observe the price action, trading the retest of the breakout level to confirm its validity and avoid potential fakeouts.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.