AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support level. A test of 2/8 (0.6469) is expected in these circumstances, followed by a breakout of this level and a rise to the resistance level of 3/8 (0.6530). The scenario can be cancelled by a downward breakout of 1/8 (0.6408), which could lead to a trend reversal and a decline to the support level of 0/8 (0.6347).
On M15, a breakout of the upper boundary of the VoltyChannel could serve as an additional signal confirming the rise.
NZDUSD, “New Zealand Dollar vs US Dollar”
On the NZDUSD chart, the situation is similar: the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend, and the RSI has rebounded from the support line. In these circumstances, the quotes are expected to rise above 2/8 (0.5981) and later reach the resistance level of 3/8 (0.6042). The scenario could be cancelled by a downward breakout of 1/8 (0.5920), which might lead to a trend reversal and a decline to the support at 0/8 (0.5859).
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of a 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.