AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. At the moment, the asset is forming a correction, which may fall to break the support at 6/8 and then reach 5/8. However, this scenario may be canceled if the price breaks 7/8 to the upside. After that, the instrument may reverse and continue growing towards the resistance at 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is trading above the 200-day Moving Average, thus confirming an ascending tendency. In this case, the price is expected to rebound from 5/8 and then resume growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and continue falling to reach the closest support at 3/8.
In the M15 chart, the price is quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 5/8 from the H4 chart.
