AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 4/8 (0.6347) is expected, from where the price might drop to the support at 2/8 (0.6286). The scenario can be cancelled by rising above 5/8 (0.6378). In this case, the quotes might reach the resistance at 7/8 (0.6439).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is approaching the oversold area. As a result, in this situation, a downward breakout of 1/8 (0.5889) is expected, followed by a price decline to the support at 0/8 (0.5859). The scenario can be cancelled by rising above 2/8 (0.5920). In this case, the pair might rise to the resistance at 4/8 (0.5981).
On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of a further price decline.
