AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may be cancelled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
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 breaking the 200-day Moving Average, NZDUSD is also trading above it to indicate a possible ascending tendency. In this case, the price is expected to test the resistance at 7/8, break it, and then continue growing to reach 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. In this case, the instrument may reverse and fall 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 its growth.
