The AUDUSD quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 6/8 (0.6713), subsequently reaching the resistance at 7/8 (0.6774). The scenario could be cancelled by a downward breakout of the support at 5/8 (0.6652), which might lead to a trend reversal and a decline to the 4/8 (0.6591) level.
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 are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 7/8 (0.6286) is expected, followed by a breakout of the level and a price rise to the resistance at 8/8 (0.6347). The scenario could be cancelled by a downward breakout of the support at 6/8 (0.6225), in which case the pair might drop to 5/8 (0.6164).
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the 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.