AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. However, right now, the asset is correcting upwards and may reach 2/8. In this case, the price is expected to test 2/8, rebound from it, and then resume moving downwards to reach the support at 0/8. However, this scenario may be canceled if the price breaks 1/8 to the downside. After that, the instrument may fall towards 0/8 without testing 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart of NZDUSD, the price is also trading below the 200-day Moving Average and correcting. In this case, the price is expected to test 2/8, rebound from it, and then fall to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. In this case, the instrument may complete the correction and continue falling towards the support at 0/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline to reach 0/8 from the H4 chart.
