AUDUSD and AUDNZD: AUDUSD stopped at 0.66800 this morning
This week, we have seen AUDUSD move into a sideways consolidation in the 0.66300-0.66900 range. AUDNZD falls to the 1.07340 support level on Thursday, forming a weekly low there.AUDUSD chart analysis
This week, we have seen AUDUSD move into a sideways consolidation in the 0.66300-0.66900 range. During this morning’s Asian trading session, the pair climbed to the 0.66800 level. After that, we encounter resistance and start pulling back to the current support at the 0.66600 level. Here, we meet the EMA50 moving average and are holding above it for now.
If the support does not hold, the AUDUSD should continue to pull back further. Potential lower targets are 0.66500 and 0.66400 levels. Additional support is EMA200 in the weekly open price zone at 0.66535. We need a positive consolidation and a move above the 0.66700 level for a bullish option. There, we get support from the daily open price, and we can hope for a recovery on the bullish side. Potential higher targets are 0.66800 and 0.66900 levels.
AUDNZD chart analysis
AUDNZD falls to the 1.07340 support level on Thursday, forming a weekly low there. After that, we see the initiation of a bullish consolidation up to the 1.07500 level. During this morning’s Asian session, the pair continues to recover, gaining support from the EMA50 moving average. A daily high was formed at the 1.07760 level. From that level, we see a slight pullback to support at 1.07650.
AUDNZD has a new opportunity to initiate a continuation of bullish consolidation from there. Potential higher targets are 1.07800 and 1.07900 levels. We need a negative consolidation and pullback below the EMA50 to the 1.07500 level for a bearish option. With that step, we move to the bearish side, confirming that the pair is losing strength and must look for new support. Potential lower targets are 1.07400 and 1.07300 levels.
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