AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. At the moment, the asset is forming a correction, which may fall to break the support at 6/8 and then reach 5/8. However, this scenario may be canceled if the price breaks 7/8 to the upside. After that, the instrument may reverse and continue growing towards the resistance at 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is trading above the 200-day Moving Average, thus confirming an ascending tendency. In this case, the price is expected to rebound from 5/8 and then resume growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and continue falling to reach the closest support at 3/8.
In the M15 chart, the price is quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 5/8 from the H4 chart.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.