What I See!
AUDNZD is showing a rising wedge formation after an extended move higher from the May swing low. Price is reacting around the 1.1000 psychological level, which overlaps with a daily Fair Value Gap (FVG) and a prior supply zone.
From a structural perspective, a move toward the bullish daily FVG near 1.0850 is a possible short-term development. If this zone holds, the chart could continue to build toward the equal highs around 1.1181.
Alternatively, invalidation of the 1.0850 daily FVG could open the door for a deeper decline, potentially completing the wedge pattern and drawing price toward lower demand areas.
This chart is presented for educational discussion of market structure and technical patterns only. It is not a trade signal or financial advice.
💬 Got questions? You’re welcome to share your thoughts in the comments.
AUDNZD is showing a rising wedge formation after an extended move higher from the May swing low. Price is reacting around the 1.1000 psychological level, which overlaps with a daily Fair Value Gap (FVG) and a prior supply zone.
From a structural perspective, a move toward the bullish daily FVG near 1.0850 is a possible short-term development. If this zone holds, the chart could continue to build toward the equal highs around 1.1181.
Alternatively, invalidation of the 1.0850 daily FVG could open the door for a deeper decline, potentially completing the wedge pattern and drawing price toward lower demand areas.
This chart is presented for educational discussion of market structure and technical patterns only. It is not a trade signal or financial advice.
💬 Got questions? You’re welcome to share your thoughts in the comments.
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.
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.