AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is nearing the resistance line. In these circumstances, we expect the quotes to test 2/8 (0.6713), make a rebound off it, and fall to the support level of 0/8 (0.6591). The scenario can be canceled by an upward breakaway of the resistance at 2/8 (0.6713). In this case, the pair might rise to 3/8 (0.6874).
On M15, the lower line of the VoltyChannel indicator is too far away from the current price, so the decline of the quotes can only be indicated by a rebound from 2/8 (0.6713) on H4.
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, which indicates the prevalence of a downtrend, and the RSI is nearing the resistance line. In this situation, we should expect the price to break 4/8 (0.6225) downwards and fall to the support at 2/8 (0.6164). The scenario can be canceled is the price rises above the resistance at 5/8 (0.6256), which might lead to a trend reversal and growth of the pair to 6/8 (0.6286).
On M15, the decline of the price on H4 can be additionally supported by a breakaway of the lower line of VoltyChannel.
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.