AUDUSD falls to a weekly low at 0,6362, AUDNZD in a retreat
AUDUSD continued its pullback today until reaching the 0.63623 support level. The AUDNZD retreat continued this week; we fell to a four-week low at the 1.08564 level this morning.AUDUSD chart analysis
AUDUSD continued its pullback today until reaching the 0.63623 support level. Strong bearish consolidation did not allow us to relax and initiate a potential recovery. We were under constant pressure from the EMA50 moving average. After falling to a new weekly low this morning, the pair started a recovery to the 0.64250 level. There, we come across the EMA50 again and stop the bullish consolidation.
We need a stronger impulse to move above, at least up to the 0.64400 level. Potential higher targets are 0.64500 and 0.64600 levels. We need a negative consolidation and a new drop below the 0.64000 level for a bearish option. This indicates to us that the AUDUSD is again under bearish pressure and that we are continuing to pull back. Potential lower targets are 0.63800 and 0.63600 levels.
AUDNZD chart analysis
The AUDNZD retreat continued this week; we fell to a four-week low at the 1.08564 level this morning. We stayed down for a short time, and the pair quickly recovered to the 1.08950 level. In this zone, we encounter the EMA200, which exerts new pressure on the pair. If we don’t manage to move above soon, another pullback will follow. Potential lower targets are 1.08800 and 1.08700 levels.
We need a positive consolidation and a move above the 1.09000 level for a bullish option. We are also getting support from the EMA200 moving average, which should reflect positively on the AUDNZD in the future. Potential higher targets are 1.09100 and 1.09200 levels.
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