In the H4 chart, after rebounding from 3/8, AUDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 2/8 and then continue moving downwards to reach the support at 1/8. However, this scenario may be canceled if the price breaks 3/8 to the upside. After that, the instrument may grow towards the resistance at 4/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is approaching the “oversold area”. In this case, the price is expected to test 0/8, rebound from it, and then correct upwards within the downtrend to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. In this case, the instrument may continue falling towards 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 its growth.
