AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. In this case, the instrument may continue growing towards the resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
