- During the Asian session this morning, the AUDUSD retreated to reach the support at 0.66650.
- A new June high for AUDNZD was formed on Friday at 1.09642.
AUDUSD Chart Analysis
During the Asian session this morning, the AUDUSD retreated to reach the support at 0.66650. With the support received at that level, the pair starts a bullish consolidation to the level of 0.66870. At that time, we formed a new daily high and for now we are staying below it. We are now at 0.66780 and looking for a new support level. We may see a test of the weekly opening price at 0.66700. If the support holds, we can turn back to the bullish side.
The highest possible targets are the 0.66850 and 0.66900 levels. We need negative consolidation and a pullback below this morning's low at 0.66650 for a bearish option. Failure to hold there will result in downward momentum to a new weekly low. The lowest possible targets are the 0.66600 and 0.66550 levels. Additional support for AUDUSD is the EMA200 moving average in the area of 0.66550 levels.
AUDNZD Chart Analysis
A new June high for the AUDNZD pair was formed on Friday at the level of 1.09642. At that level we encounter resistance and the pair begins to retreat. During the Asian session this morning, with bearish consolidation, we went down to the 1.09300 level. There we managed to stabilize and began a bullish consolidation until the level of 1.09500. Here, we are testing the weekly opening price and need to move above it to get back to the positive side.
If we achieve this, the AUDNZD will be able to begin a further recovery to higher levels. The possible highest targets are the 1.09700 and 1.09800 levels. We need a negative consolidation and another pullback to 1.09300 for a bearish option. A new pressure at that level could have a negative effect and send us to a new daily low. The lowest possible targets are the 1.09200 and 1.09100 levels.
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