Daily AUD/USD chart highlighting a V-shaped bounce crossing the 21 EMA. Source: TradingView
Renko Bulls Capture 500 SMA
Analyzing the 0.001-brick traditional Renko exposes an unbroken, rigid sequence of green continuation bricks that systematically triggered algorithmic buy programs straight up from the lows, ultimately shattering the looming 500 SMA that previously capped rallies. Squeeze is on. The Supertrend flashed a mechanical buy signal, establishing a solid, definitive foundation for any impending intraday pullbacks that nervous, undercapitalized retail traders might foolishly attempt to fade in this chaotic environment. The underlying RSI is registered as constructive, above 50, while the oscillating 20-period Z-Score steadily normalizes near an unassuming -0.19 (at the time of writing), providing hard, statistical confirmation that the immediate downside velocity has definitively exhausted itself. Don’t fight it.
