AUDUSD has broken the 200-day Moving Average on H4 and is above the line now, revealing the probable development of an uptrend. The RSI is testing the resistance line. As a result, a test of 7/8 (0.6774) is expected, followed by a breakout and a rise to the resistance level of 8/8 (0.6835). The scenario can be cancelled by a downward breakout of the support level of 5/8 (0.6652). In this case, the pair could drop to 4/8 (0.6591).
On M15, the upper line of the VoltyChannel is broken. This increases the probability of a further price rise.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to rise above 6/8 (0.6225), later reaching the resistance level of 7/8 (0.6286). The scenario can be cancelled by a downward breakout of 5/8 (0.6164), which might lead to a trend reversal and a decline to the support level of 4/8 (0.6103).
On M15, the upper line of the VoltyChannel is broken. This indicates the prevalence of an uptrend and increases the probability of a further price rise.
Attention!
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.