AUDNZD – Liquidity Expansion Toward 1.30–1.35? RBA vs RBNZ MacroAustralian Dollar/New Zealand DollarFX:AUDNZDMandrakeFXOpening Hook AUDNZD recently broke above the 1.19 structural resistance, signaling the potential start of a new bullish expansion phase. Macro divergence between RBA and RBNZ, combined with commodity strength, could drive the pair toward higher liquidity zones in the coming cycles. Key Levels to Watch Support 1.19 – recent breakout level 1.17–1.18 – structural support zone Resistance 1.22–1.23 – first expansion zone 1.26–1.27 – macro resistance 1.30 – psychological level Above 1.30 there is historical liquidity extending toward 1.34–1.36. Market Structure On the higher timeframes, AUDNZD formed a large accumulation base between 1.03 and 1.19 over several years. Key elements: • Major bottom formed in 2022 around 1.03 • Higher highs and higher lows since 2023 • Structural breakout above 1.19 This suggests the pair may be transitioning from accumulation into expansion. Macro Drivers Several macro factors currently support AUD relative to NZD: RBA monetary policy remains relatively firm compared to the more accommodative stance of the RBNZ. Australia also benefits from stronger exposure to global commodities, while New Zealand's economy is more sensitive to agricultural demand cycles. Geopolitical instability and potential commodity price shocks could further strengthen commodity-linked currencies like AUD. Possible Expansion Path A realistic medium-term path could develop in stages: 1.19 → consolidation 1.22 → breakout attempt 1.26 → macro resistance test 1.30 → psychological barrier 1.34–1.36 → long-term liquidity zone The move would likely occur through waves rather than a straight trend. Risk Scenario The bullish structure weakens if price loses 1.17, which could trigger a deeper retracement toward 1.15 before continuation. Conclusion As long as price holds above 1.19, AUDNZD maintains a bullish macro structure. The pair may target 1.26–1.30 in the medium term, with a possible extension toward 1.34–1.36 if macro divergence and commodity strength persist.