AUDNZD was identified at around 1.090915 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 1.0890 level.
AUDNZD is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.
