AUDUSD and AUDNZD: AUDUSD is under pressure on Friday
Thursday was very positive for AUDNZD as we saw bullish consolidation from 1.08700 to 1.09800.
AUDUSD chart analysis
During this morning’s Asian session, AUDUSD rose to the 0.66054 level, forming a new weekly high there. After that, there was a stop at that level and a pullback to the 0.65750 level. We have the EMA 50 moving average a little below that, which could slow or stop further pullback. Potential lower targets are 0.65400 and 0.65200 levels.
At the 0.65400 zone, AUDUSD could test the EMA 200 moving average before continuing its pullback. For a bullish option, we need positive consolidation and support from the EMA 50 moving average. If we manage to secure that, we can hope for further recovery to the bullish side. And with potential higher targets at 0.66200 and 0.66400 levels, there’s reason to be hopeful.
AUDNZD chart analysis
Thursday was very positive for AUDNZD as we saw bullish consolidation from 1.08700 to 1.09800. During this morning’s Asian trading session, the pair encountered resistance at the new high and started to pull back. The EMA 200 moving average creates additional pressure, forcing us to pull back. The pair is now at 1.09285, forming a new daily low. It is quite possible that there will be a sudden increase in bearish momentum and a fall to new lower levels.
Potential lower targets are 1.09000 and 1.08800 levels. For a bullish option, we need a positive consolidation of AUDNZD above the 1.09600 level. Here, we hope for support from the EMA 200 before we start conquering higher levels. Potential higher targets are 1.10000 and 1.10200 levels. This week’s AUDNZD high is somewhere in between at 1.10086.
