AUDUSD and AUDNZD: AUDUSD exceeds last week’s high
- During this morning’s Asian trading session, the AUDUSD continued its bullish consolidation
- During this morning’s Asian trading session, the AUDNZD retreated to the 1.09850 level
AUDUSD chart analysis
During this morning’s Asian trading session, the AUDUSD continued its bullish consolidation. There were no trend changes in the EU session, and the pair rose to 0.66992 levels. Now, we pause there and make a short pullback to the 0.66965 level. That could trigger a deeper pullback below 0.66800. This increases the bearish momentum and turns towards the daily open price.
How the AUDUSD behaves in that zone will determine this week’s trend. Potential lower targets are 0.66600 and 0.66500 levels. Additional support is the EMA 50 moving average around the 0.66550 level. For a bullish option, we need a positive consolidation and growth to the 0.67000 level. With that step, we grow to a new daily high and confirm that we remain in a bullish trend. Potential higher targets are 0.67100 and 0.67200 levels.
AUDNZD chart analysis
During this morning’s Asian trading session, the AUDNZD retreated to the 1.09850 level. At this level, we received support from the EMA200 moving average, and the pair turned to the bullish side again. From there, we see the initiation of a new bullish consolidation and a rise to the 1.10250 level. We are back above the daily open price on the positive side. Now, there is a good opportunity to continue on the bullish side and reach last week’s levels.
Potential higher targets are 1.10400 and 1.10600 levels. We need a negative consolidation and a new drop to the EMA 200 moving average for a bearish option. With a pullback below the AUDNZD will form a new daily low and thus confirm that it is under pressure. After that, we are likely to see a further pullback to a new low. Potential lower targets are 1.09600 and 1.09400 levels.
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