AUDUSD and AUDNZD: AUDUSD broke above 0.66000 yesterday
- AUDUSD found support at the 0.65200 level on Wednesday, after which we saw a strong bullish consolidation.
- AUDNZD continues the bullish trend from the previous week.
AUDUSD chart analysis
AUDUSD found support at the 0.65200 level on Wednesday, after which we saw a strong bullish consolidation. The EMA200 moving average provides additional support in that zone. That moved us to the daily high at the 0.65800 level. Then, we pulled back to support at 0.65600 and continued to grow, crossing levels by level. During this morning’s Asian trading session, we found support at the 0.66200 level.
With that step, we are going to a new weekly high at the 0.66484 level. We are currently in that zone and expect growth to reach a new high. Potential higher targets are the 0.66500 and 0.66600 levels. For a bearish option, we need negative consolidation and pullbacks to the 0.66200 support zone. A fall below means that we are falling under bearish pressure and turning towards lower levels. Potential lower targets are the 0.66000 and 0.65800 levels.
AUDNZD chart analysis
AUDNZD continues the bullish trend from the previous week. We saw a break above last week’s high at the 1.70000 level on Wednesday. After that, the bullish consolidation continued, and the pair rose to a new weekly high. We are currently at the 1.07470 level and expect to see a continuation to the bullish side. Potential higher targets are 1.07500 and 1.07600 levels.
For a bearish option, AUDNZD should pull back below the 1.07300 level. After that we would be close to testing the daily open price. By falling below, we move away from the previous bullish consolidation and turn to the bearish side. Potential lower targets are 1.07200 and 1.07100 levels. EMA200 moving average is below the 1.06900 level.
