AUDUSD and AUDNZD: AUDNZD continues the bearish trend
- During this morning’s Asian trading session, the AUDUSD was in retreat from the 0.66650 level, a crucial resistance point.
- During the Asian session, AUDNZD maintained its bearish consolidation from the previous week, indicating a continuation of the current market trend.
AUDUSD chart analysis
During this morning’s Asian trading session, the AUDUSD was in retreat from the 0.66650 level, a crucial resistance point. In the EU session, the decline continued to the 0.66330 support level, a key level to watch. Now, we are fighting to get back above the EMA200 and the 0.66400 levels, which could signal a potential reversal. If the previous bearish trend prevails, the pair will be forced to fall to a new daily low. Potential lower targets are 0.66300 and 0.66200 levels, which could provide further support.
For a bullish option, it is crucial that we maintain a position above the EMA200 and the 0.66400 level. From this support, we anticipate the start of positive consolidation and a move towards the 0.66500 level. We are also approaching the weekly open price at the 0.66535 level. Potential higher targets are 0.66600 and 0.66700 levels.
AUDNZD chart analysis
During the Asian session, AUDNZD maintained its bearish consolidation from the previous week, indicating a continuation of the current market trend. There were no trend changes in the EU session, and the pair is now at a new weekly low at the 1.08080 level. In this zone, we are exerting pressure on last week’s support zone. Any additional pressure could amplify the bearish sentiment and push AUDNZD to a new two-week low.
Potential lower targets are 1.08050 and 1.08000 levels. We need a new positive consolidation and a return above the 1.08200 level for a bullish option. In this way, we see a bottom formation and turn to the bullish side. After that, the AUDNZD would have a new opportunity to initiate growth and move to higher levels. Potential higher targets are 1.08250 and 1.080300 levels.
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