- This week, the AUDUSD has been on the upside.
- The Australian dollar against the New Zealand dollar is on a downward trend after rising to 1.07034 levels last Friday.
AUD/USD chart analysis
This week, the AUDUSD has been on the upside. After holding on Monday around the 0.65400 level, we saw a break above 0.65500 and a clearer continuation to the upside. On Thursday, the pair rose to 0.65950, forming a new weekly high. After that, we saw a pullback to the 0.65400 level, where we found support and started resistance to the 0.65800 level.
During the previous Asian trading session, the AUDUSD fell to the 0.65500 level, forming a higher low and confirming the uptrend. Now, we are once again on the way to the 0.65800 level, and we expect to test it by the end of the day. Depending on the momentum, a breakout to the upside and a new daily high may occur. Possible higher targets are 0.65900 and 0.66000 levels.
AUDNZD chart analysis
The Australian dollar against the New Zealand dollar is on a downward trend after rising to 1.07034 levels last Friday. The pair was declining from Monday until last night, forming a weekly low at 1.05699. During the Asian trading session, we saw a bounce and a rise to the 1.06060 level. We stopped at this level, and so far we have not been able to break through it. The pair is currently under pressure and has retreated to the 1.05950 level.
If a pullback is required, possible downside targets are 1.05900 and 1.05800. We need to break through the 1.06060 resistance level to get a bullish option. Then, we have to hang in there until we can start recovering with the next impulse. Possible higher targets are 1.06200 and 1.06300 levels. The EMA200 at 1.06300 represents additional resistance for an upside continuation.
