AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is trading inside the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 1/8 to the upside. After that, the instrument may grow towards 2/8.
As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume trading downwards only after rebounding from 8/8 in the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is trading above the 200-day Moving Average to indicate an 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 5/8 to the downside. After that, the instrument may reverse and fall towards the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may 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.