AUDNZD Local S/R| .382 Fibonacci| Daily S/R| Price Action

Evening Traders,

Today’s analysis – AUDNZD- trading above Local S/R, holding this level is indicative of strength,

Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Daily S/R Objective
- RSI Bullish Control Zone

AUDNZD’s immediate price action is impulsive above Local S/R that is in confluence with the .382 Fibonacci. Price Action has a high probability of respecting this level.

The Daily S/R is current target, breaking this level will increase the probability of trend continuation.

Current RSI is trading in its respective bullish control zone, remaining in these levels is indicative of strength in the market.

Overall, in my opinion, AUDNZD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps!

Thank you for following my work

And remember,

“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite