AUDUSD at support at 0.65500, AUDNZD at 1.07300 level

• Yesterday, AUDUSD was under much pressure in the zone around the 0.66300 level.
• During the Asian trading session, AUDNZD received support at the 1.07300 level.

AUDUSD chart analysis

Yesterday, AUDUSD was under much pressure in the zone around the 0.66300 level. This was followed by a pullback with a strong bearish consolidation below 0.66000 and the EMA200 moving average. During today’s Asian session, we continued to pull back to the 0.65520 level. We stop there and initiate a bullish consolidation to the 0.65700 level. We need a continuation to break out of the bearish embrace.

Potential higher targets are the 0.65800 and 0.65900 levels. We will have additional pressure on AUDUSD in the EMA200 moving average around the 0.65900 level. The pair would have to drop back down to this morning’s support level for a bearish option. A new visit could lead to a new breakout below and a drop to a lower low. Potential lower targets are the 0.65500 and 0.65400 levels.

AUDNZD chart analysis

During the Asian trading session, AUDNZD received support at the 1.07300 level. We started a bullish consolidation from that level and climbed to a new weekly high at 1.07752. We are still high around the 1.07700 level and expect this consolidation to continue until the end of the day. Potential higher targets are the 1.07800 and 1.07900 levels.

First, we need a negative consolidation and pullback below the 1.07500 level for a bearish option. Thus, we fall below the previous support zone. We are again looking at this morning’s support zone around the 1.07300 level. The new pressure could see the AUDNZD slip below to a new low. Potential lower targets are the 1.07200 and 1.07100 levels. Additional support in the zone around 1.07200 is in the EMA200 moving average.

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