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