AUDUSD and AUDNZD: AUDUSD continues to rise and today
- During this morning’s Asian trading session, the AUDUSD initiated a bullish consolidation with the 0.65700 support level.
- The pair AUDNZD is in retreat after the market opened last night.
AUDUSD chart analysis
During this morning’s Asian trading session, the AUDUSD initiated a bullish consolidation with the 0.65700 support level. We are now back at the 0.66000 level and expect to test the previous high at 0.66054. After the formation of a new high, we can expect further recovery and transition to a new high. Keep an eye on the potential higher targets at 0.66100 and 0.66200 levels.
For a bearish option, we need a negative AUDUSD consolidation back to the 0.65800 level. This would signal a significant loss of the previous bullish momentum, requiring us to be cautious. After that, we have to return to the weekly open price and seek that support. If we fail, we go below to a new low and thereby confirm the bearish momentum. Potential lower targets are 0.65600 and 0.65500 levels.
AUDNZD chart analysis
The pair AUDNZD is in retreat after the market opened last night. Bearish consolidation took us down to the 1.09400 support level. The pair has been under pressure from the EMA 200 moving average since this morning and the probability that we will see a further pullback to a new low is increasing. Potential lower targets are 1.09300 and 1.09200 levels.
For a bullish option, we need a positive consolidation and a return of AUDNZD above the 1.09700 level. This would move us to the positive side above the EMA 200 moving average. We will form a new weekly high and thereby strengthen the bullish direction. After that, we are looking at 1.09780, last week’s high, before continuing the bullish trend. Keep an eye on the potential higher targets at 1.09900 and 1.10000 levels.
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