AUDUSD quotes on H4 have broken the 200-day Moving Average and are now above it, indicating the possible development of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 6/8 (0.6713) is expected, followed by a breakout and a price rise to the resistance at 7/8 (0.6774). The scenario can be cancelled by a downward breakout of 5/8 (0.6652). In this case, the pair could drop to the support level of 4/8 (0.6591).
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a further price increase.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes on H4 are above the 200-day Moving Average, revealing the prevailing uptrend. The RSI has rebounded from the support line. In these circumstances, the price is expected to rise above 6/8 (0.6225) and advance to the resistance at 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 drop to the support at 4/8 (0.6103).
On M15, the upper line of the VoltyChannel is broken, which indicates the prevalence of an uptrend and a high probability of further price growth.
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.