The AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. However, a divergence is forming on the RSI. As a result, in this situation, a test of 7/8 (0.6774) is expected, followed by a rebound from this level and a decline to the support at 5/8 (0.6652). The scenario could be cancelled by rising above the resistance level of 7/8 (0.6774), in which case, the pair could rise to 8/8 (0.6835).
On M15, after a rebound from 7/8 (0.6774) on H4, the price decline might be additionally supported by a breakout of the lower boundary of the VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
On the NZDUSD chart, the situation is similar. The quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend, while the RSI is forming a divergence. In this situation, a test of 7/8 (0.6286) is expected, followed by a rebound from this level and a decline to the support at 5/8 (0.6164). The scenario could be cancelled by rising above the resistance at 7/8 (0.6286), in which case the pair could rise to 8/8 (0.6347).
On M15, after a rebound from 7/8 (0.6286) on H4, the price decline might be additionally supported by a breakout of the lower boundary of the VoltyChannel.
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.