- Yesterday, the Australian dollar against the US dollar came under significant pressure in the region around the 0.66300 level.
- During the Asian trading session, the Australian dollar against the New Zealand dollar received support at the level of 1.07300.
AUD/USD chart analysis
Yesterday, the Australian dollar against the US dollar came under significant pressure in the region around the 0.66300 level. This was followed by a pullback with strong bearish consolidation below 0.66000 and the EMA200. During today's Asian session, we continued to decline to the 0.65520 level. We stop there and start the upward consolidation to the 0.65700 level. We need to continue to break out of the bearish embrace.
Possible higher targets are 0.65800 and 0.65900 levels. We will have additional pressure on AUDUSD at the EMA200 around the 0.65900 level. The pair will have to pull back to the support level this morning to get a bearish option. A new visit could lead to a new breakout below and a drop to a lower low. Possible lower targets are 0.65500 and 0.65400 levels.
AUDNZD chart analysis
During the Asian trading session, the Australian dollar against the New Zealand dollar received support at the level of 1.07300. We started a bullish consolidation from that level and climbed to a new weekly high at 1.07752. We are still at a high level around 1.07700 and we expect this stability to continue until the end of the day. Possible higher targets are 1.07800 and 1.07900 levels.
First, we need negative consolidation and a pullback below the 1.07500 level for a bearish option. Therefore, we fall below the previous support area. We are again looking at the support area this morning around the 1.07300 level. New pressure could send the AUD/NZD pair to a new low. Possible lower targets are 1.07200 and 1.07100 levels. Additional support is in the area around the 1.07200 EMA200 moving average.
