As we can see in the H4 chart, AUDUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to test 3/8, rebound from it, and then resume moving upwards to reach the resistance at 5/8. However, this scenario may be canceled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, after breaking 2/8, NZDUSD is trading above it. In this case, the price is expected to test 3/8, break it, and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. In this case, the instrument may fall 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 to reach 4/8 from the H4 chart.
