AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving inside the “overbought area”. In this case, the pair may break 8/8 and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 1/8. After that, the instrument may continue growing to reach the resistance at 2/8.
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 moving inside the “oversold area”. In this case, the pair may break 0/8 and then continue growing to reach the resistance at 2/8. However, as long as the price is trading below 0/8, the descending tendency will prevail and continue to reach the support at -1/8.
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.