AUDUSD and AUDNZD: AUDNZD is holding above 1.09300 level
- During this morning’s Asian trading session, the AUDUSD retreated to support at 0.66650.
- On Friday, a new June high was formed for AUDNZD at the 1.09642 level.
AUDUSD chart analysis
During this morning’s Asian trading session, the AUDUSD retreated to support at 0.66650. With the received support at that level, the pair starts a bullish consolidation up to the 0.66870 level. At that point, we form a new daily high, and we are holding below it for now. Now, we are at 0.66780 and looking for a new support level. It is possible that we will see a test of the weekly open price at 0.66700. If the support holds, we can turn to the bullish side again.
Potential higher targets are 0.66850 and 0.66900 levels. We need a negative consolidation and pullback below this morning’s low at 0.66650 for a bearish option. Failure to hold there will lead to an impulse below to a new weekly low. Potential lower targets are 0.66600 and 0.66550 levels. Additional support for AUDUSD is the EMA200 moving average in the zone of 0.66550 levels.
AUDNZD chart analysis
On Friday, a new June high was formed for AUDNZD at the 1.09642 level. At that level, we encounter resistance, and the pair begins to retreat. During this morning’s Asian trading session, with bearish consolidation, we move down to 1.09300 levels. There, we manage to stabilize and initiate a bullish consolidation up to the 1.09500 level. Here, we are testing the weekly open price and need to move above to return to the positive side.
If we succeed in this, the AUDNZD will be able to start a further recovery to higher levels. Potential higher targets are 1.09700 and 1.09800 levels. We need a negative consolidation and another pullback to the 1.09300 level for a bearish option. New pressure on that level could have a negative effect and send us to a new daily low. Potential lower targets are 1.09200 and 1.09100 levels.
