FX.co ★ Daily Video Analysis: AUDNZD facing bearish pressure, potential for reversal!

Today we take a look at AUDNZD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it holds below both descending trendline and moving average resistances. We could see a reversal at Sell Entry level, in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback resistance, and a further drop towards take profit level, in line with 61.8% Fibonacci extension and horizontal swing low support.