EUR USD, “Euro vs US Dollar”
The EUR/USD pair broke the 8/8 level and fixed below it. Consequently, in the nearest future the market may test the daily Super Trend and the 6/8 level. If the price breaks these levels, it may continue moving downwards to reach the 4/8 one.
At the H1 chart, Super Trend formed “bearish cross”. If the pair stays below the 3/8 level, the market will continue falling towards the 0/8 level. After reaching the latter level, the price may start a new correction.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair rebounded from the 7/8 level twice, which means that it may start a new descending correction. As a result, in the nearest future the market may fall towards the daily Super Trend and the 6/8 level. The future scenario depends on how the price will move after reaching the above-mentioned levels.
As we can see at the H1 chart, the 4/8 level provided resistance. If later the price is able to fix below Super Trends, the pair may continue falling towards the 0/8 level. After reaching this level, the market may start a new local correction.
RoboForex Analytical Department