AUDNZD’s bulls fall short in breaking the 1.10 level. Yesterday’s price action helped form a daily bearish FVG.

To start my analysis today, I am updating the AUDNZD cross pair.

There are 2 major Australian economic reports released today while there is none for New Zealand.

Re-assessing AUDNZD’s high timeframe candles:

Yearly Candle: Last check is a Green Hammer now a Green Long-Legged Spinning Top with a Longer Tail Wick

Monthly Candle: Last check is a Red Doji now a Red Body with a Long Head Wick

Weekly Candle: Last check is a Green Body with a Longer Head Wick now a Red Body with a Long Head Wick

Daily Candle: Previous close is a Red Body with a Longer Head Wick current is Developing a Red Long Upper Shadow

The bears have completely taken over nullifying my bullish analysis on Tuesday. 

With incoming 4H bear and death crosses plus a daily bearish FVG progressing, intraday rally attempts towards the 1.0950 are likely to be sold off.

Top is already in for this Month and strong swing high points on the weekly view.

The AUDNZD bears threaten to target April 18’s external support.

For now, I’m changing my instance to a seller after the 1.10 failure.

I’m going to short the rally attempts toward the 1.0950 levels while targeting the said April 18 lows.

Will put a quick stop loss at 1.0980 in case the bearish daily FVG is retraced fully.

Same RRR of 2. If the 3-year resistance trendline persists, the other 3-year support trendline awaits.

Let’s see how this one goes. Good luck.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.