AUDUSD and AUDNZD: AUDUSD is under pressure at 0.66200
- On Wednesday evening, AUDUSD jumped to the 0.67043 level.
- During this morning’s Asian trading session, the AUDNZD recovered from the 1.07600 support level.
AUDUSD chart analysis
On Wednesday evening, AUDUSD jumped to the 0.67043 level. This was followed by a bearish consolidation that continues today. During this morning’s Asian session, we pulled back below the EMA200 moving average, which added pressure on the AUDUSD. A new low was formed at the 0.66000 level, and we are now at 0.66150. We will remain under pressure unless we return above the 0.66200 level.
This would have the effect of sliding to a new low, thereby confirming the bearish continuation. Potential lower targets are 0.65900 and 0.65800 levels. We need a positive consolidation and a jump up to the 0.66400 level for a bullish option. This brings us back above the EMA200 and the daily open price. Then the AUDUSD would have to stabilize there before it continues to the bullish side. Potential higher targets are 0.66600 and 0.66800 levels.
AUDNZD chart analysis
During this morning’s Asian trading session, the AUDNZD recovered from the 1.07600 support level. After that, we saw a move above the EMA50 moving average, strengthening the bullish momentum. A daily high was formed at the 1.07900 level, and now it is important for us to maintain above the EMA200 moving average. If we succeed, we could trigger a further recovery above today’s high.
Potential higher targets are 1.07950 and 1.08000 levels. We need a negative consolidation and pullback below the 1.07750 support level for a bearish option. This brings us back below the EMA200 moving average, increasing the pressure on the AUDNZD to start a further pullback. Potential lower targets are 1.07000 and 1.06500 levels.
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