On the 1-hour chart, AUDNZD is forming a descending triangle 📐, a bearish continuation pattern.
- Horizontal support is holding but getting repeatedly tested
- Lower highs indicate selling pressure
Plan:
- Break and close below support may trigger a bearish continuation
- Target: 1.08750 🎯 (≈ 35 pips from current price)
- Invalidation if price breaks above descending trendline and holds
Reasoning:
- Descending triangle often leads to breakdowns when tested multiple times
- Lower highs show sellers gaining control
- Short bias remains as long as price respects the triangle resistance
(Personal chart study, not financial advice)
- Horizontal support is holding but getting repeatedly tested
- Lower highs indicate selling pressure
Plan:
- Break and close below support may trigger a bearish continuation
- Target: 1.08750 🎯 (≈ 35 pips from current price)
- Invalidation if price breaks above descending trendline and holds
Reasoning:
- Descending triangle often leads to breakdowns when tested multiple times
- Lower highs show sellers gaining control
- Short bias remains as long as price respects the triangle resistance
(Personal chart study, not financial advice)
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.