- During the Asian session this morning, the AUDUSD rose to the 0.66054 level, forming a new weekly high there.
- Thursday was a very positive day for the AUDNZD pair as we saw bullish consolidation from 1.08700 to 1.09800.
AUDUSD Chart Analysis
During the Asian session this morning, the AUDUSD rallied to the 0.66054 level, forming a new weekly high there. After that, there was a stop at that level and a pullback to the 0.65750 level. We have the EMA 50 moving average a bit below that, which could slow down or stop a further pullback. Possible lower targets are the 0.65400 and 0.65200 levels.
At the 0.65400 area, the AUDUSD could test the 200 EMA before continuing its pullback. For a bullish option, we need positive consolidation and support from the 50 EMA. If we manage to secure that, we can expect a further recovery towards the bullish side. And with possible higher targets at the 0.66200 and 0.66400 levels, there are reasons to be hopeful.
AUDNZD Chart Analysis
Thursday was a very positive day for the AUDNZD pair as we saw bullish consolidation from 1.08700 to 1.09800. During the Asian session this morning, the pair found resistance at the new high and started to pull back. The EMA 200 moving average creates additional pressure, forcing us to pull back. The pair is now at 1.09285, forming a new daily low. A sudden surge in bearish momentum and a drop to new lower levels is quite possible.
Possible lower targets are 1.09000 and 1.08800 levels. For a bullish option, we need positive consolidation of AUDNZD above 1.09600 level. Here, we expect support from 200 EMA before starting to conquer higher levels. Possible upper targets are 1.10000 and 1.10200 levels. AUDNZD's high for this week is somewhere in between at 1.10086.
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