- AUDUSD found support at the 0.65200 level on Wednesday, after which we saw strong bullish consolidation.
- The AUDNZD continues the bullish trend of the previous week.
AUDUSD Chart Analysis
AUDUSD found support at the 0.65200 level on Wednesday, after which we saw strong bullish consolidation. The EMA200 moving average provides additional support in that area. That took us to the daily high at the 0.65800 level. Then, we pulled back to the support at 0.65600 and continued to grow, crossing level after level. During the Asian session this morning, we found support at the 0.66200 level.
With that step, we will reach a new weekly high at the level of 0.66484. We are currently in that zone and expect growth to reach a new high. The possible highest targets are the 0.66500 and 0.66600 levels. For a bearish option, we need negative consolidation and pullbacks to the 0.66200 support zone. A drop below means we are falling under bearish pressure and turning towards lower levels. The lowest possible targets are the 0.66000 and 0.65800 levels.
AUDNZD Chart Analysis
The AUDNZD continues the bullish trend of the previous week. On Wednesday we saw a break above last week's high at the 1.70000 level. After that, the bullish consolidation continued and the pair rose to a new weekly high. We are currently at the 1.07470 level and we expect to see a continuation to the bullish side. The highest possible targets are the 1.07500 and 1.07600 levels.
For a bearish option, AUDNZD should retreat below the 1.07300 level. After that we would be close to testing the daily opening price. By falling below, we move away from the previous bullish consolidation and turn to the bearish side. The lowest possible targets are the 1.07200 and 1.07100 levels. The EMA200 moving average is below the 1.06900 level.
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