AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and correct towards 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD has rebounded from the downside border of the range at 3/8. In this case, the price is expected to break 4/8 and continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may reverse and fall towards 2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.
