- During the Asian session, AUDUSD moved in the range of 0.65100-0.65300.
- During the Asian session, AUDNZD recovered from Friday's decline.
AUDUSD Chart Analysis
During the Asian session, AUDUSD moved in the range of 0.65100-0.65300. We stay below the EMA200 moving average and watch how it will behave for the rest of the day. The move is in a tight range and we are likely to soon see sideways momentum that will break this formation. If we surpass the figure, then we will have the opportunity to start the recovery of AUDUSD. The highest possible targets are the 0.65400 and 0.65500 levels.
For a bearish option, we need a pullback below the 0.65100 level. Falling below would test the 0.65000 support level. The negative is that we would form a new low for this week, which could increase pressure on this pair to initiate a further pullback. The lowest possible targets are the 0.64900 and 0.64800 levels.
AUDNZD Chart Analysis
During the Asian session, AUDNZD recovered from Friday's decline. At the opening of the market, the pair surpasses the level 1.06000 and very quickly rises to the level 1.06400. Bullish consolidation could continue pushing this pair above the 1.06500 level by the end of the day. The AUD is in a better position than the NZD and is taking advantage of it. The highest possible targets are the 1.06600 and 1.06700 levels.
The EMA200 moving average and the previous resistance are located in the area around the 1.06800 level. We need a negative consolidation and a pullback below the 1.06250 support level for a bearish option. With a drop below, the pair would be under pressure to test the price of 1.06000 since the market opened last night. The lowest possible targets are the 1.05900 and 1.05800 levels.
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