AUDUSD is recovering above 0.66000, AUDNZD gains support
- During the Asian session, AUDUSD dropped to new support at the 0.65860 level.
- During the Asian session, AUDNZD gains new support at the 1.09600 level.
AUDUSD chart analysis
During the Asian session, AUDUSD dropped to new support at the 0.65860 level. However, with positive consolidation, we climbed up to the 0.66100 level, indicating a potential for profit. This upward movement is supported by the EMA50 moving average, a key indicator in our analysis. We expect further continuation to the bullish side, with potential higher targets at 0.66200 and 0.66400 levels.
While the bullish scenario seems promising, we must also consider the bearish option. We need a negative consolidation and pullback below 0.66000 and the EMA50 moving average for this to occur. In this scenario, we could face more pressure to move lower to the EMA200 at the 0.65800 level.
This would test a bigger support, and if we slip below, we could see a deeper pullback this week. It’s important for traders and investors to be prepared for potential lower targets at 0.65600 and 0.65400 levels.
AUDNZD chart analysis
During the Asian session, AUDNZD gains new support at the 1.09600 level. After that, we see two impulses and a move above the EMA200 and the 1.09800 level. We manage to stay there and start a positive consolidation that takes us to a new daily low at 1.099700 level. Potential higher targets are 1.10000 and 1.10100 levels, offering a confident outlook for profit.
For a bearish option, AUDNZD would have to turn back towards the EMA200 moving average. A new testing of the 1.09800 level would only increase the pressure on this pair to start a further retreat and hit a new support level. Potential lower targets are 1.09600 and 1.09400 levels.
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