AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is still trading inside the “overbought area”. In this case, the pair is expected to break 8/8 and then continue falling to reach the support at 7/8. However, this scenario may be canceled if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the next resistance at +2/8.
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 consolidating. Earlier, there was a “false” breakout of 5/8; in this case, the price is expected to continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
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.