- AUDUSD found support at 0.65200 on Wednesday, after which we saw a strong bullish consolidation.
- AUD/NZD continues the uptrend from the previous week.
AUD/USD chart analysis
AUDUSD found support at 0.65200 on Wednesday, after which we saw a strong bullish consolidation. The EMA200 moving average provides additional support in that area. This took us to a daily high of 0.65800. We then fell back to support at 0.65600 and continued to grow, breaking levels by level. During the Asian trading session this morning, we found support at the 0.66200 level.
With this move, we will reach a new weekly high at 0.66484. We are currently in that zone and expect growth to reach a new high. Possible higher targets are 0.66500 and 0.66600 levels. For the bearish option, we need a negative consolidation and a pullback to the 0.66200 support area. Falling below that means we are under downward pressure and heading towards lower levels. Possible lower targets are 0.66000 and 0.65800 levels.
AUDNZD chart analysis
AUD/NZD continues the uptrend from the previous week. We saw a break above last week's high of 1.70000 on Wednesday. After that, the bullish consolidation continued, and the pair rose to a new weekly high. We are now at 1.07470 and expect to see a continuation of the upward trend. Possible higher targets are 1.07500 and 1.07600 levels.
For a bearish option, the AUD/NZD should fall below the 1.07300 level. After that we will be close to testing the daily opening price. By falling lower, we break away from the previous bullish consolidation and turn to the downside. Possible lower targets are 1.07200 and 1.07100 levels. The EMA200 moving average is below the 1.06900 level.
