AUDNZD sitting at 1.04900 support level


AUDNZDWeekly

AUDNZD has been in a strong bearish trend for about 7 weeks now, with every week in the past 7 weeks creating new lows. At present, price sits at the 1.04900 level which happens to be a previous area of rejection, as well as a a psychological area. I will be watching for price action signals around here for clearer direction as to whether the bulls are about to take back control, or the bears are still very much in control.

TREND- Bearish

BIAS- Neutral, waiting for a clear price action from the 1.04900 support

 

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