AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. The Relative Strength Index has rebounded from the resistance line. In this case, the pair is expected to break 1/8 (0.6469) and then continue falling towards the support at 0/8 (0.6347). However, this scenario may be cancelled if the price breaks the resistance at 2/8 (0.6591) to the upside. After that, the instrument may move upwards to reach 3/8 (0.6714).
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline towards 0/8 (0.6347) from the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is also trading below the 200-day Moving Average, thus indicating a descending tendency. The Relative Strength Index has rebounded from the resistance area. In this case, the price is expected to test 2/8 (0.5615), break it, and then continue moving downwards to reach the support at 1/8 (0.5493). However, this scenario may no longer be valid if the price breaks the resistance at 3/8 (0.5737) to the upside. After that, the instrument may resume growing towards 4/8 (0.5859).
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
