Watch This Wedge! AUDNZD Primed for Upside Push

The AUDNZD pair forms a falling wedge pattern, a bullish reversal formation that typically occurs after a downtrend. The price action is being squeezed between a descending resistance line and a descending support line, creating a narrowing range. The market is now attempting to break out of the wedge, with the current price testing the resistance line. A breakout and close above this trendline would signal bullish strength and could lead to a reversal of the recent downtrend.
Targets:
TP1: 1.07605
TP2: 1.07922
Stop Loss: Below the recent low at 1.06542