AUDNZD at Key Resistance: Will It Drop To 1.10650?

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AUDNZD is at a significant resistance area that has consistently acted as a barrier for bullish momentum. The recent price action suggests a potential for sellers to step in and drive prices lower from this zone.

If rejection signals, such as bearish engulfing candles or upper wicks, appear, I expect a move toward 1.10650. A break above this resistance, however, could indicate a shift in market sentiment.

Traders should wait for confirmation before entering short positions and ensure proper risk management. If you have any thoughts or agree with this analysis, I’d love to hear your perspective in the comments!

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