The AUDNZD pair has broken through resistance in a bullish manner, following a falling wedge pattern. The target is set at 1.0729.

The trading arrangement was pinpointed on AUDNZD. The AUDNZD price has surpassed the resistance line of a Falling Wedge pattern on February 28, 2024, at 04 AM. A bullish price movement is anticipated for the following four days, possibly reaching 1.0729.

The pattern’s overall visual quality is excellent. The uniformity rating is high, indicating that the price changes are fairly consistent throughout the pattern’s formation. The initial price trend before this trading setup was extremely weak, likely resulting from a turbulent market. The trading setup is distinct, with minor noise during the oscillations between support and resistance. The breach through resistance was extraordinarily robust, providing a powerful insight into the current market psychology.

It appears there are no economic events in the forecast period that have previously influenced the volatility of AUDNZD.