AUDNZD: Bearish Drop to 1.1710?Australian Dollar vs. New Zealand DollarFX:AUDNZDMaster_HunterAUDNZD is eyeing a bearish continuation on the 4-hour chart, with price testing a clear resistance zone near the downward trendline after forming lower highs, converging with a potential entry area that could trigger further downside momentum if sellers defend amid volatility. This setup suggests a solid pullback opportunity toward the lower support zones with more than 1:4 risk-reward overall.🔥 Entry between 1.2046–1.2088 (entry from current price with proper risk management is recommended). Targets at 1.1813 (first), 1.1710 (second). Set a stop loss at a daily close above 1.2130, yielding a risk-reward ratio of more than 1:4 overall. Monitor for confirmation via a bearish candle close below entry with rising volume, leveraging the pair’s weakness near resistance.🌟 Fundamentally, AUDNZD is trading around 1.193 in early August 2026. For the Australian Dollar, one of the most important releases this week (3–9 August) is the Australia Trade Balance, which will provide insight into export strength and overall trade performance. For the New Zealand Dollar, the key event is the New Zealand Labour Market data (Unemployment Rate and Employment Change for Q2), where weaker results could weigh on NZD and influence the pair’s direction. 💡 📝 Trade Setup 🎯 Entry (Short): 1.2046 – 1.2088 (Entry from current price is acceptable with proper position sizing and disciplined risk management.) 🎯 Targets: • 1.1813 (First Target) • 1.1710 (Final Target) ❌ Stop Loss: • Daily candle close above 1.2130 📈 Risk-to-Reward: More than 1:4 overall 💡 Will sellers defend the 1.2046–1.2088 resistance zone and drive AUDNZD toward 1.1813 and 1.1710, or will buyers reclaim 1.2130 and invalidate the bearish setup? 👇