- During the Asian session this morning, the AUDUSD pair broke last week's low and formed a new one.
- The AUDNZD pair has been retreating since the opening of the Asian session last night.
AUDUSD Chart Analysis
During the Asian session this morning, the AUDUSD pair broke last week's low and formed a new one. The new weekly low is 0.66600 and we are currently very close to it. The pair is under pressure to build momentum below and create a new low. Possible lower targets are the 0.66500 and 0.66400 levels.
In the case of a bullish option, we are hoping for a positive consolidation and a return to the level of 0.66850. This would mean a move above the weekly opening price to the positive side. Stabilization there would be key to forming a bottom for the continuation of the bullish side. The potential for higher targets at the levels of 0.67000 and 0.67100 is a positive sign. Note that additional resistance for AUDUSD could be found at the EMA 200 moving average around the level of 0.67200.
AUDNZD Chart Analysis
The AUDNZD pair has been in a pullback since the opening of the Asian session last night. A new low was formed at the level of 1.11000. Additional pressure from a sharp drop below the EMA 50 moving average could worsen the picture. We expect to see a further pullback and the formation of a new daily low. Possible lower targets are the levels of 1.10900 and 1.10800.
Additional support for AUDNZD in the area of 1.10850 is found at the 200 EMA. For a bullish option, we need to first move back above 1.11100 and the 50 EMA. With new support, the pair could start a further recovery to the weekly opening price of 1.11250. The above momentum takes us to the positive side and strengthens optimism for further continuation on the bullish side. Possible higher targets are the levels of 1.11300 and 1.11400.
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