AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. However, the RSI has reached the overbought area. As a result, a test of 5/8 (0.6652) is expected, followed by a rebound from this level and a decline to the support at 3/8 (0.6530). The scenario could be cancelled by rising above 5/8 (0.6652), in which case the pair might continue rising and reach the resistance level of 6/8 (0.6713).
On M15, after a rebound from 5/8 (0.6652), 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 above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. However, a divergence has formed on the RSI. In this situation, a rebound from 4/8 (0.6103) is expected, followed by a decline to the support level of 2/8 (0.5981). The scenario could be cancelled by rising above the 4/8 (0.6103) level. In this case, the pair might reach the resistance at 5/8 (0.6164).
On M15, a breakout of the lower boundary of the VoltyChannel might increase the probability of a price decline.
