AUDUSD and AUDNZD: AUDNZD back to 1.09000 level
Yesterday, AUDUSD reached its weekly high at 0.67141 level. AUDNZD has been in a bearish trend all this week.AUDUSD chart analysis
Yesterday, AUDUSD reached its weekly high at 0.67141 level. This was followed by a strong bearish impulse and a rapid decline below the 0.67000 level. By the end of the day, the pair consolidated at 0.66800. This morning, again in the Asian session, there is a new weakening of the Australian dollar and a drop to a two-day low at the 0.66490 level. The picture on the chart is still very bearish, and we can expect further pullback.
Potential lower targets are 0.66400 and 0.66300 levels. For a bullish option, we need to get rid of this bearish pressure first. With the retracement above 0.66700, we are climbing above the EMA50 moving average. EMA50 could be our support and trigger for a new bullish consolidation. Potential higher targets are 0.66800 and 0.6700 levels.
AUDNZD chart analysis
AUDNZD has been in a bearish trend all this week. On Monday and Tuesday, we had a certain struggle with the EMA200 moving average, after which there is an increase in bearish pressure and the formation of a strong bearish consolidation. Today, the pair fell to a new weekly low at 1.08920, and we see no signs of stopping here. We expect to see a continuation on the bearish side and form a new lower low.
Potential lower targets are 1.08800 and 1.08600 levels. We need a positive consolidation return above the 1.09000 level for a bullish option first. If we succeed, we can hope for further recovery. A move to 1.09200 would take us to the EMA50 moving average, where we would try to hold there to gain its support. Potential higher targets are 1.09400 and 1.09600 levels.
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