On the daily timeframe, AUDNZD looks to be in a bearish trend after experiencing a trend reversal last week. Although it is still above the kumo cloud and there is a bull candle on the chart, bearish pressure is still quite dominant. This is also reinforced by the stochastic chart which shows a decline towards level 20, indicating the potential for the bearish trend to continue. However, traders still need to confirm signals from other indicators before making trading decisions to ensure the validity of the potential next move.
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