- Friday took AUDUSD to a new 20-month high at 0.69373
- On Tuesday, AUDNZD retreated to the 1.08500 level, hitting a new weekly low.
AUDUSD Chart Analysis
The AUDUSD pair hit a new 20-month high at 0.69373 on Friday. After that, the pair lost its momentum and a pullback to the level of 0.69020 followed. We may see a drop to 0.68800 and a test of the support of the 50 EMA EMA. With the momentum reduced in the pair, it could turn down on Monday and test the 200 EMA around the 0.68400 levels.
Failure to hold above will strengthen the momentum below the 200 EMA. Possible lower targets are the 0.68200 and 0.68000 levels. With new support, AUDUSD would have the opportunity to start a bullish consolidation back to the 0.69400 area. With this, we reached a new high and strengthened the momentum towards the bullish side. The possible highest targets are the 0.69600 and 0.69800 levels.
AUDNZD chart analysis
On Tuesday, AUDNZD retreated to the 1.08500 level, hitting a new weekly low. After that, the pair recovers and stops at the level 1.09300. We had no forces from above, which led us to begin the withdrawal on Thursday. On Friday, the pair tries to return to the bullish side again but stops at the level of 1.09200. The inability to stay on the bullish side led to bearish consolidation and a drop below the 200 EMA and 1.09000 levels.
We will not stop there, but will go down to the support level of 1.08800 on Friday. We expect to see a continuation to the bearish side on Monday and form a new low. The lowest possible targets are the 1.87000 and 1.86000 levels. With a performance above the 200 and 1.09000 EMA, AUDNZD would return to the positive side. After that, the pair has the opportunity to try again to attack the previous high. The possible highest targets are the 1.09300 and 1.09400 levels.
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