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 is moving within the ”oversold area”. In this case, the pair is expected to test 4/8 (0.6347), break it, and then continue growing towards the resistance at 5/8 (0.6469). However, this scenario may be cancelled if the price breaks the support at 3/8 (0.6225) to the downside. After that, the instrument may move downwards to reach 2/8 (0.6103).
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
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 is approaching the “oversold area”. In this case, the price is expected to test 1/8 (0.5493), rebound from it, and then resume moving upwards to reach the resistance at 3/8 (0.5737). However, this scenario may no longer be valid if the price breaks the support at 1/8 (0.5493) to the downside. After that, the instrument may continue falling towards 0/8 (0.5371).
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 3/8 (0.5737).
