Economy

AUDUSD and AUDNZD: AUDNZD is struggling at 1.08200 level

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AUDUSD and AUDNZD: AUDNZD is struggling at 1.08200 level

During this morning’s Asian trading session, the AUDUSD was bullish and crossed the EMA200 moving average.
During this morning’s Asian trading session, the AUDNZD managed to hold above last week’s low.

AUDUSD chart analysis

During this morning’s Asian trading session, the AUDUSD was bullish and crossed the EMA200 moving average. After receiving new support in the EU session, we see further recovery and the formation of a weekly high at the 0.66450 level. We expect to see further recovery to a new high by the end of the day if today’s trend continues. Potential higher targets are 0.66500 and 0.66600 levels. 

We need a negative consolidation and pullback below the EMA200 moving average for a bearish option. Going below the AUDUSD will be forced to test the weekly open price at the 0.66300 level. If the pair continues to weaken, it will move to the negative side and form a new weekly low. Potential lower targets are 0.66200 and 0.66100 levels.

 

AUDNZD chart analysis 

During this morning’s Asian trading session, the AUDNZD managed to hold above last week’s low. We are currently at the 1.08260 level but still below the weekly open price of 1.08278. Mild bullish consolidation will have the opportunity today to move us above the weekly open price and thus move us to the positive side. Potential higher targets are 1.08350 and 1.08400 levels.

We could have an additional break in the 1.08350 zone in the EMA50 moving average. We need a negative consolidation and pullback down to the 1.08200 level for a bearish option. This moves us into the support zone. The new pressure could adversely affect the AUDNZD and send it below to a new lower low. Potential lower targets are 1.08150 and 1.08100 levels.

 

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