AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the support line. In this situation, a downward breakout of the 6/8 (0.6408) level could be expected, followed by a decline to the support at 4/8 (0.6347). The scenario can be cancelled by rising above 7/8 (0.6439), which could lead to a trend reversal and make the pair rise to the resistance at 8/8 (0.6469).
On M15, the price decline might be additionally supported by a breakout of the lower boundary of the VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. However, the RSI is nearing the oversold area. As a result, in these circumstances, a downward breakout of the 5/8 (0.6012) level is expected, followed by a decline to the support at 3/8 (0.5950). The scenario can be cancelled by rising above the resistance at 6/8 (0.6042). In this case, the pair might grow to the resistance at 8/8 (0.6103).
On M15, a breakout of the lower boundary of the VoltyChannel might support the price decline.
