Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Investing

AUDUSD and AUDNZD: AUDUSD falls under bearish pressure

AUDUSD and AUDNZD: AUDUSD falls under bearish pressure

AUDUSD made a big drop from 0.66400 to 0.65000 levels on Wednesday. 
AUDNZD is in retreat this week, with a weekly low forming at the 1.08756 level. 

AUDUSD chart analysis

AUDUSD made a big drop from 0.66400 to 0.65000 levels on Wednesday. Yesterday, we tried to consolidate and initiate recovery, and we did so partially up to the 0.65500 level. After that, in this morning’s Asian session, the pair tried to hold on to the 0.65400 level, but the pressure was high on the Australian dollar, and we saw a new pullback. We are now back in the 0.65000 zone and testing its support.

Potential lower targets are 0.64900 and 0.64800 levels. For a bullish option, we need a positive consolidation and a move above the 0.65200 level to start. Then we need to hold up there in order to make a bottom from which to initiate a recovery to the bullish side. Potential higher targets are 0.65300 and 0.65400 levels.

AUDNZD chart analysis

AUDNZD is in retreat this week, with a weekly low forming at the 1.08756 level. On Monday and Tuesday, we consolidated in the 1.09300-1.09500 range. Wednesday brings a strong bearish impulse and a drop to the 1.09000 level first. We then slipped to a new weekly low. Yesterday, the pair spent consolidating in the 1.08800-1.09100 range, trying to stay there and turn to the bullish side.

On the upside, we also have the EMA200 moving average, which could put additional pressure on the AUDNZD. Potential higher targets are 1.09150 and 1.09200 levels. We need a new test of the support zone around the 1.08800 level for a bearish option. We go to a new weekly low and extend the bearish scenario by breaking below. Potential lower targets are 1.08750 and 1.08700 levels.

 

The post AUDUSD and AUDNZD: AUDUSD falls under bearish pressure appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Oracleofomahasays.com