- Last week's high for AUDUSD was formed on Friday at 0.66677.
- Last week's growth for the Australian dollar against the New Zealand dollar stopped on Friday at the level of 1.07472.
AUD/USD chart analysis
Last week's high for AUDUSD was formed on Friday at 0.66677. We stop there and start falling from this level to 0.66250. During the Asian trading session, the Australian dollar remains under pressure without having a chance to break through the resistance area. This led to a decline to the 0.66100 level. Here we find support at the EMA50, which does not allow us to fall below it at the moment.
This may start a bullish wave and a jump above today's resistance level 0.66250. Possible higher targets are 0.66300 and 0.66400 levels. If we fall below 0.66100, the pair will be under pressure to decline and test 0.66000. Thus, we form a new daily low and confirm the increase in downward momentum. Possible lower targets are 0.65900 and 0.65800 levels.
AUDNZD chart analysis
Last week's growth for the Australian dollar against the New Zealand dollar stopped on Friday at the level of 1.07472. Then, with two strong bearish impulses, we fall to the level of 1.07120. With the new support, we recover slightly to 1.072500 and close the market there on Friday. During the Asian trading session this morning, the pair continued to decline and fell below the lows recorded on Friday. Thus, we form a two-day low and confirm the downward momentum.
Possible lower targets are 1.07000 and 1.06900 levels. Additional resistance can be found at the 200 moving average in the area above the 1.06900 level. For the bullish option, we need a positive consolidation and a move above the 1.07250 level. Thus, we return above the weekly opening price and rise to the positive side. Possible higher targets are 1.07300 and 1.07400 levels.
