AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to break test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is testing the resistance at 3/8 again. In this case, the price is expected to break this level and continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. In this case, the instrument may continue falling towards the support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.