AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing to reach the resistance at 8/8. However, this scenario may be canceled if the price breaks the support at 6/8 to the downside. After that, the instrument may reverse and continue falling towards the support at 5/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, after rebounding from the 200-day Moving Average, NZDUSD is moving above it. In this case, the price is expected to break 5/8 and then continue growing towards 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 continue falling to reach the closest support at 3/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing to reach 6/8 from the H4 chart.
