AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the 6/8 to the downside. After that, the instrument may fall towards the support at 4/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue trading upwards only after breaking 7/8 in the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is also trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 5/8 and continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 4/8 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 its growth.
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.