- During the Asian session this morning, the AUDUSD pair rose to a new weekly high, reaching 0.67388.
- Since the beginning of this week, the AUDNZD has been in a steady bullish consolidation supported by the EMA50 moving average.
AUDUSD Chart Analysis
During the Asian session this morning, the AUDUSD reached a new weekly high, hitting 0.67388. This significant jump has brought the pair back to its move from the beginning of the year. We are currently witnessing a solid bullish consolidation, which has the potential to propel the pair to a new high. This week, we have the EMA50 and EMA200 moving averages providing support early on, with possible higher targets at the 0.67400 and 0.67600 levels.
For a bearish option, a negative consolidation and a pullback of the AUDUSD to the level of 0.67200 are needed. Here, we will test the support of the EMA50 moving average. If the bearish momentum gains strength, a pullback will occur, leading to a possible new daily low. This could lead to possible lower targets at the levels of 0.67000 and 0.66800.
AUDNZD Chart Analysis
Since the beginning of this week, the AUDNZD has been in a steady bullish consolidation supported by the EMA50 moving average. During the Asian trading session this morning, a weekly high was formed at the level of 1.10110. After that, the pair pauses there and moves in the range 1.10000-1.10100. Based on the previous trend, we conclude that it is highly likely to continue on the bullish side.
Possible upper targets are 1.10200 and 1.10400 levels. We need a negative consolidation and a break below the EMA50 moving average for a bearish option. This will significantly increase the pressure on the AUDNZD to start a fresh pullback and seek support at a lower level. Possible lower targets are 1.09800 and 1.09600 levels.
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