AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H4 chart, the AUD/USD pair is trading inside the “overbought zone” above the 8/8 level. If the price breaks the 1/8 level, the instrument may fall towards the 8/8 one.
At the H1 chart, there are two possible scenarios when the price tests the 5/8 level. The first scenario implies that the price may rebound from this level and continue growing towards the resistance at the 8/8 one. According to the second scenario, the instrument may break it and then fall to reach the support at the 0/8 one.
NZD USD, “New Zealand Dollar vs US Dollar”
At the H4 chart, the NZD/USD pair is trading inside the “overbought zone”. If the price breaks the 8/8 level, it may resume falling towards the 6/8 one.
At the H1 chart, the pair is also trading inside the “overbought zone”. If the price breaks the 8/8 level, the instrument may falling towards the 5/8 one.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.