AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, bulls managed to stop AUDUSD from falling last Friday and their dominance has continued since. Right now, the price is breaking the 2/8 level, which means a further growth up to the resistance at the 3/8 one. If the latter is broken as well, the next target will be the 4/8 one. Bears may take control of the pair only if it breaks the 1/8 level, which is quite far away from the price, that’s why this scenario is very unlikely. However, if it does happen, the instrument may fall to reach the support at the 0/8 level.
As we can see in the M15 chart, the pair may has broken the upside line of the VoltyChannel indicator and, as a result, may trade upwards to continue the ascending tendency.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD has been trading around the 3/8 level since May 17th. The pair broke this level in downwards several times, but failed to fix below it. Last Friday, bulls attempted to break the level upwards again and succeeded. Right now, the price is trading near the 4/8 level. In case this level is broken, the pair may continue growing to reach the resistance at the 5/8 one. However, this scenario may no longer be valid if the breaks the 3/8 level downwards. This will be rather unexpected, but bears will continue dominating and push the instrument to reach at the 1/8 level.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
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.