AUDUSD and AUDNZD: AUDUSD is testing resistance at 0.66500
Yesterday, the AUDUSD fell to a new weekly low at the 0.65900 level.
Yesterday’s bullish consolidation took AUDNZD to a new weekly high at 1.08549 level.
AUDUSD chart analysis
Yesterday, the AUDUSD fell to a new weekly low at the 0.65900 level. After that, the pair stabilized at that level and started a positive consolidation up to the 0.66480 level. During this morning’s Asian trading session, the movement occurred in the 0.66250-0.66400 range. We are now seeing a slight bullish attempt to break above this range. We need momentum above 0.66500 to start a bullish consolidation.
Potential higher targets are 0.66600 and 0.66700 levels. We need a negative consolidation and a drop below the 0.66280 level for a bearish option. That step brings us below the weekly open price into negative territory. After that, AUDUSD forms a new daily low and confirms the bearish momentum. Potential lower targets are 0.66200 and 0.66100 levels.
AUDNZD chart analysis
Yesterday’s bullish consolidation took AUDNZD to a new weekly high at 1.08549 level. There we encounter resistance in the EMA200, which again sends us to the bearish side until the porska at 1.08278 weekly open price. During the Asian trading session, the pair gets that support and we begin today’s recovery to the 1.08400 level. We have the support of the EMA50 moving average and expect further recovery to the bullish side.
Potential higher targets are 1.08450 and 1.08500 levels. We need a negative consolidation and a new pullback along this morning’s support level for a bearish option. If AUDNZD fails to hold there, an impulse below to a new daily low will follow. Potential lower targets are 1.08200 and 1.08150 levels.
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