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Thoughts on AUDNZD setup
Been watching $AUDNZD closely. It's pushing against that 1.22 resistance level again today, printing 1.2202 intraday before pulling back slightly to 1.2195. We've seen rejection from this area multiple times over the last few weeks. If it fails to break above 1.2220 convincingly on a daily close, I'm anticipating a move back down towards 1.2150 initially, potentially revisiting the 1.2100 psychological level. The risk, of course, is a sustained push through 1.2220. If that happens, my whole short-term premise is invalid, and we could see a quick run up to 1.2250, maybe even 1.2280.
2 comments · 1 points
That's interesting to hear about the 1.22 resistance. I've been watching AUDNZD too, but mainly from a daily candle perspective. What are your thoughts on how global risk sentiment might play into this pair? I'm new to this and trying to learn.