In the H4 chart, AUDUSD is consolidating. In this case, the pair is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may continue growing towards the resistance at 6/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is trading at 5/8. In this case, there are two possible scenarios. The first scenario implies that the pair may rebound from this level and resume growing to reach the resistance at 7/8. According to the second scenario, the price may break the level and then continue moving downwards to reach 3/8. Last Friday, bears attempted to break 5/8, but failed, that’s why the first scenario looks more promising.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving 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.