AUDUSD and AUDNZD: AUDUSD is falling below 0.65800 level
On Friday, we saw a strong pullback in AUDUSD from 0.66700 to 0.65800.
AUDNZD continued today with last week’s bullish consolidation, rising to 1.07980.
AUDUSD chart analysis
On Friday, we saw a strong pullback in AUDUSD from 0.66700 to 0.65800. During this morning’s Asian session, the pair initiated a recovery to the 0.66000 level. Here, we encounter new resistance and turn to the bearish side again. We are now at the 0.65850 level and sliding towards the weekly open price of 0.65800.
With new pressure on that level, we could fall to a new low and thereby confirm further continuation to the bearish side. Potential lower targets are 0.65700 and 0.65600 levels. We need a positive consolidation and a return again above the 0.66000 level for a bullish option. Then, we need to stabilize above that level. After that, we will have a new opportunity to start further growth. Potential higher targets are 0.66100 and 0.66200 levels.
AUDNZD chart analysis
AUDNZD continued today with last week’s bullish consolidation, rising to 1.07980. In that zone, we encounter the EMA200 moving average, which, for now, does not allow us to move above it. The AUDNZD is forced to retreat to the 1.07820 level and is testing the weekly open price there. If the support holds, we expect the start of a new pushy consolidation and a move above the EMA200 moving average.
Potential higher targets are 1.08000 and 1.08100 levels. We need a drop below the weekly open price for a bearish option. This brings us to a new weekly low and confirms the increase in bearish momentum. Potential lower targets are 1.07700 and 1.07600 levels.
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