AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of the 4/8 (0.6591) level is expected, followed by a decline to the support at 3/8 (0.6530). The scenario could be cancelled by rising above the resistance level of 5/8 (0.6652), which could lead to a trend reversal and a rise to 6/8 (0.6713).
On M15, the price decline could additionally be supported by a breakout of the lower boundary of the VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes have broken the 0/8 (0.6103) level on H4 and exited the oversold area. The RSI has rebounded from the support line. In this situation, the pair is expected to rise above 2/8 (0.6164) and continue growing to the resistance at 4/8 (0.6225). The scenario could be cancelled by a downward breakout of the 1/8 (0.6134) level, in which case the pair could return to 0/8 (0.6103).
On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a further price rise.
