AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is trading inside the “oversold area”. In this case, the price is expected to break 0/8 and continue growing to reach the resistance at 1/8. However, this scenario may no longer be valid if the price rebounds from 0/8 to the downside. After that, the instrument may reverse and resume falling to return to the support at -1/8.
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 moving 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 possible descending tendency. In this case, the price is expected to rebound from 1/8 and resume moving downwards to reach the support at -1/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and grow towards 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
