AUD/USD, “Australian Dollar vs.
The price of the AUD/USD is above its 200-day moving average on the H4 chart, indicating that an upward trend is underway. The RSI is approaching the oversold territory. In this situation, a test of 3/8 (0.6530) is expected, followed by a bounce from this level and a rise to the resistance at 5/8 (0.6652). The scenario could be canceled by a downward break of 3/8 (0.6530). In this case, the pair could fall to the support level of 2/8 (0.6469).
NZD/USD, New Zealand Dollar versus US Dollar
The price of the NZD/USD is above its 200-day moving average on the H4 chart, indicating that an upward trend is taking place. The RSI is approaching its support line. A test of 4/8 (0.6103) is expected, followed by a rebound from this level and a rise to the resistance at 6/8 (0.6225). The scenario could be canceled by a downward break of 4/8 (0.6103). In this case, the pair could fall to the support at 3/8 (0.6042).
