AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which reveals the prevalence of a downtrend. The RSI has broken the support level. As a result, we expect the price to keep falling to the nearest support at 2/8 (0.6591). The scenario can be canceled by an upward breakaway of the resistance at 3/8 (0.6713). In this case, the pair might rise to 4/8 (0.6835).
On M15, a further decline of the price can be additionally supported by a breakaway of the lower line of the VoltyChannel indicator.
NZDUSD, “New Zealand Dollar vs US Dollar”
The situation on the NZDUSD chart is similar. On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend, while the RSI has broken the support line. In such circumstances, we expect the price to keep falling to 1/8 (0.6164). The scenario can be canceled by an upward breakaway of the resistance at 2/8 (0.6225), which might lead to a trend reversal and growth of the pair to 3/8 (0.6286).
On M15, the lower line of the VoltyChannel indicator has broken. This indicates the prevalence of a downtrend and a high probability of further falling of the price.
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.