AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on H4, which reveals the prevalence of a downtrend. However, the RSI has formed a convergence, which is a signal for a possible price rise. As a result, the quotes should be expected to rise above 3/8 (0.6530), subsequently reaching the resistance at 4/8 (0.6591). The scenario could be cancelled by a downward breakout of the support at 2/8 (0.6469). In this case, the quotes might continue falling to the 1/8 (0.6408) level.
On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a price rise.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are below the 200-day Moving Average on H4, which reveals the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 4/8 (0.6103) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.5981). The scenario could be cancelled by rising above the 4/8 (0.6103) level, in which case the quotes might rise to the resistance at 5/8 (0.6164).
On M15, after a rebound from 4/8 (0.6103) on H4, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
