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AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving at 5/8. In this case, the pair is expected to break this level and continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price rebounds from 5/8 to the upside. After that, the instrument may continue growing to reach the resistance at 6/8.
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”
As we can see in the H4 chart, NZDUSD is moving inside the “overbought area”. According to the main scenario, the pair is expected to break 8/8 and then continue falling to reach the support at 5/8. However, this scenario may no longer be valid if the price rebounds from 8/8. After that, the instrument may start a new growth towards the resistance at +2/8.
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In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.