AUDUSD remains below 0.65250 and EMA50, AUDNZD climbed
AUDUSD has been under constant bearish pressure all week. During the Asian trading session, AUDNZD climbed to a new high at the 1.09155 level.AUDUSD Chart Analysis
AUDUSD has been under constant bearish pressure all week. This led to a strong pullback to the 0.64854 level yesterday, forming a new weekly low there. We managed to hold above and recover to the 0.65250 level, where the EMA50 moving average awaited us. A new bearish pressure does not allow us to start a further recovery.
During this morning’s Asian trading session, the pair retreated to 0.65050, where it is gaining new support. Then, we recover slightly to the 0.65150 level and again encounter the EMA50 moving average. New pressure in this zone could trigger a new pullback. Potential lower targets are 0.65000 and 0.64900 levels.
AUDNZD chart analysis
During the Asian trading session, AUDNZD climbed to a new high at the 1.09155 level. The Australian dollar continues to dominate against the New Zealand dollar. After forming a new weekly high, the pair begins to retreat to the 1.08900 level. Here, we find support, pull back to the 1.09000 level, and move above the EMA50 moving average.
If we manage to stay above, we will have the opportunity to initiate a new bullish consolidation. Potential higher targets are 1.09050 and 1.09100 levels. We need a negative consolidation to the 1.08850 support zone for a bearish option. The inability to hold above will push us below to a new low and thus break through the previous bullish formation. Potential lower targets are 1.08800 and 1.08750 levels.
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