AUDUSD quotes are nearing the overbought area on H4. A divergence formed on the RSI. In this situation, a test of 8/8 (0.6835) 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 at 8/8 (0.6835). In this case, the pair could rise to 1/8 (0.6897).
On M15, after a rebound from the 8/8 (0.6835) level 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. On H4, the quotes are nearing the overbought area, and on the RSI, a divergence has formed. In this situation, a test of 8/8 (0.6347) 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 8/8 (0.6347), in which case, the pair might reach the 1/8 (0.6408) level.
On M15, after a rebound from 8/8 (0.6347) on H4, the price decline could 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.