- Yesterday, we saw the AUDUSD retreat from the weekly high to the support at 0.67000.
- During the Asian session this morning, the AUDNZD fell to a new weekly low at the 1.09094 level.
AUDUSD Chart Analysis
Yesterday we saw the AUDUSD pull back from the weekly high to the support at 0.67000. During the Asian session this morning, the pair managed to stabilise and start a bullish consolidation. The daily high was formed at the level of 0.67300, where we received support from the EMA 50 moving average. All indications are that there will be a rise to the bullish side and the formation of a daily high.
Possible upper targets are 0.67400 and 0.67600 levels. For a bearish option, we need a negative consolidation and a pullback of AUDUSD below the 50 EMA and 0.67200 levels. This is the first bearish step; the next one is a pullback to the daily opening price of 0.67000. This time, we could see a push below and a drop to a new low. Possible lower targets are 0.66800 and 0.66600 levels. The pair could find new support at the 200 EMA moving average in the area of 0.66800 levels.
AUDNZD Chart Analysis
During the Asian session this morning, the AUDNZD dropped to a new weekly low at the level of 1.09094. We managed to stop there and start a bullish consolidation above the daily opening price. We are currently at 1.09300 and expect further continuation towards the bullish side. At the area of 1.09400, the pair will meet the EMA 50 moving average before continuing with further recovery towards the bullish side.
Possible upper targets are 1.09500 and 1.09600 levels. We expect further resistance at 1.09700 zone on the 200 EMA. We need a bearish consolidation of AUDNZD back to 1.09100 level for a bearish option. With such a move, we test the weekly low and have a chance to form a new lower one. Possible lower targets are 1.09000 and 1.08900 levels.
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