- A new 10-day high was formed for AUDUSD today at the 0.67500 level
- During the Asian session this morning, the AUDNZD rose to the 1.09000 level
AUDUSD Chart Analysis
A new 10-day high was formed for the AUDUSD today at the level of 0.67500. The pair managed to break above last week's high at 0.67330. This strengthened the bullish momentum and we started to conquer higher levels. There is a good chance that we will break above 0.67500 today and continue the bullish consolidation. Possible higher targets are the levels of 0.67600 and 0.67700. The next high that could be interesting is until September 6 at 0.67674.
For a bearish option, we need a negative consolidation and a drop below the 0.67200 level. With such a move, AUDUSD will retreat below the previous high and increase the momentum towards the bearish side. After that, 0.67000 is a very important support level. We also have the 200 EMA moving average in that area, which could stop further pullback. Possible lower targets are the 0.66900 and 0.66800 levels.
AUDNZD Chart Analysis
During the Asian session this morning, the AUDNZD rose to the level of 1.09000. After the formation of today's high, the pair retreated to the support level of 1.08800. There we found the EMA 50 moving average which helped the AUDNZD to return to the bullish side. We are now at 1.08935 and have returned above the daily opening price. We expect to continue the recovery to a new weekly high.
Possible upper targets are 1.09100 and 1.09200 levels. For a bearish option, we need a negative consolidation below the 1.08800 level. With such a move, we move below the EMA 50 moving average. This will cause the AUDNZD to decline and try to find new support. Possible lower targets are 1.08700 and 1.08600 levels.
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