As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test 4/8, break it, and then continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may reverse and resume growing towards 7/8.
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 also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 4/8 and continue moving downwards to reach the support at 3/8. On the other hand, this scenario may no longer be valid if the price breaks the resistance at 5/8 to the upside. After that, the instrument may reverse and resume growing towards 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
