AUDUSD and AUDNZD: AUDUSD under pressure below 0.65000
- On Friday evening, AUDUSD retreated to the 0.64551 level, forming a new two-month low there.
- Last week, we watched the AUDNZD seek support in the 1.08800-1.09000 zone.
AUDUSD chart analysis
On Friday evening, AUDUSD retreated to the 0.64551 level, forming a new two-month low there. The next low is from February at the 0.64428 level; we were very close to testing it. During the Asian trading session, the pair recovered slightly to 0.64930 levels. After forming a daily high at that level, we see a pullback to the 0.64800 level. We need a new impulse to move us above 0.65000 and the EMA50 moving average.
With that step, we can start further positive consolidation and recovery to the bullish side. Potential higher targets are 0.65200 and 0.65400 levels. In the zone around 0.65400, we have resistance in the EMA200 moving average, and we hope to jump over that obstacle easily. We need a pullback to the 0.64600 support level for a bearish option. Then we are back in the support zone from Friday. New pressure could negatively affect us to slide to a new lower low. Potential lower targets are 0.64400 and 0.64300 levels.
AUDNZD chart analysis
Last week, we watched the AUDNZD seek support in the 1.08800-1.09000 zone. During the Asian trading session, the pair initiates a positive consolidation and makes a breakthrough above 1.09000 and the EMA200 moving average. This pushed us up to the 1.09200 level this morning. We meet resistance at that level and pull back to the 1.09000 level, and we will try to get support in this zone.
We hope to stay above EMA200 and start further recovery with its support. Potential higher targets are 1.09250 and 1.09300 levels. For a bearish option, we need a break below this support level. By falling below, we return to last week’s movement channel and will be under pressure to slide down. Potential lower targets are 1.08900 and 1.08800 levels.
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