AUDNZD Potential drop from the Resistance
AUDNZD has rebounded from the channel border after forming a consolidation zone. The market remains bearish on both the daily and 4H timeframes. After recently hitting the support level, the price has moved sideways, suggesting it may continue to fluctuate between the established range's upper and lower boundaries. Considering that the price has rebounded from this level twice before, there is a strong possibility it may do so again. However, if the market breaks through the trendline and the key support at 1.08500, it could signal a continuation of bearish momentum and lead to even lower levels. The target is the support level at 1.08200
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