AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 5/8, break it, and then continue falling to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the 6/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart of NZDUSD, the situation is similar. The asset has broken the 200-day Moving Average and is currently trading below it to indicate a descending tendency. In this case, the price is expected to break 5/8 and continue falling to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may reverse and grow towards 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
Source: Roboforex
