In the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 0/8, rebound from it, and then resume moving downwards to reach the support at -1/8. However, this scenario may be canceled if the price breaks 1/8 to the upside. After that, the instrument may grow towards 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”
In the H4 chart of NZDUSD, the price is also trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break the closest support at 1/8 and then continue falling to reach 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. In this case, the instrument may reverse and resume growing towards the resistance at 3/8.
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 its decline.
