As we can see in the H4 chart, after rebounding from the 200-day Moving Average, AUDUSD is trading below it, thus indicating a descending tendency. In this case, the price is expected to break test 3/8 and then continue moving downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 5/8.
In the M15 chart, the pair may break 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 trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and continue falling to reach the support at 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 continue growing towards the resistance at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
