AUDUSD quotes have rebounded from the support level of 0/8 (0.6347) on H4. The RSI is approaching the resistance line. In this situation, a test of 1/8 (0.6408) is expected, followed by a breakout of this level and a rise to the resistance at 2/8 (0.6469). The scenario can be cancelled by a downward breakout of the 0/8 (0.6347) level. In this case, the quotes could resume falling and reach the support at -1/8 (0.6286).
On M15, the price growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes and the RSI are approaching their respective oversold areas. In this situation, a test of 0/8 (0.5859) is expected, followed by a rise to the resistance at 2/8 (0.5981). The scenario can be cancelled by a downward breakout of the 0/8 (0.5859) level, which could lead to a further decline to -1/8 (0.5798)
On M15, a new breakout of the upper boundary of the VoltyChannel might increase the probability of a 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.