AUDUSD and AUDNZD: AUDUSD in decline below 0.65000 level
- Since Wednesday, the AUDUSD has been under pressure into the support zone.
- AUDNZD is in a strong bullish trend this week from 1.05800 to 1.06955 levels.
AUDUSD chart analysis
Since Wednesday, the AUDUSD has been under pressure into the support zone. The pullback below the 0.6500 level pushed the pair to the bearish side, and we are in that zone for the third day. Yesterday, we formed a weekly low at the 0.64870 level. After that, we tried to initiate a bullish consolidation but encountered resistance at 0.65300 and the EMA200 moving average. From that level, we retreat again below the 0.65000 level.
During the Asian trading session, AUDUSD moved in the 0.64900-0.65100 range. We noticed a slight bullish presence in the last couple of hours that could trigger a bullish consolidation. With the growth to 0.65250, we come across the EMA200 again, and we need a break above in order to get rid of the bearish pressure. Potential higher targets are 0.65400 and 0.65500 levels.
AUDNZD chart analysis
AUDNZD is in a strong bullish trend this week from 1.05800 to 1.06955 levels. On Wednesday morning, in the Asian session, we had the Reserve Bank of New Zealand report on the interest rate. Published data showed that the interest rate will remain at the same level until the next meeting. This news was considered positive for the Australian dollar, which took advantage of it and sent the pair above the 1.06800 level with a bullish impulse.
Currently, AUDNZD is struggling to stay above 1.06700 as it is under bearish pressure. Today’s resistance is at 1.06900, and we are slowly moving away from it. A break below would form a new daily low; thus, we get confirmation to continue on the bearish side. Potential lower targets are 1.06600 and 1.06500 levels.
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