AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are on the 200-day Moving Average, which indicates a lack of any trend. The RSI is testing the resistance line. As a result, a downward breakout of 4/8 (0.6713) is expected, followed by falling to the support at 2/8 (0.6652). The scenario can be canceled by rising above the resistance at 5/8 (0.6744). In this case, the pair could rise to 6/8 (0.6774).
On M15, an additional signal confirming the decline could be a breakout of the lower border of the VoltyChannel indicator.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI has broken the support line. Currently, a test of 3/8 (0.6164) is expected, followed by a rebound from this level and falling to the support at 1/8 (0.6134). The scenario can be canceled if the price rises above the resistance at 3/8 (0.6195). In this case, the pair may correct to 4/8 (0.6225).
On M15, the lower line of VoltyChannel is broken. This confirms the downtrend and increases the probability of further falling for 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.