AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 5/8 (0.6378) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.6286). The scenario can be cancelled by rising above the 5/8 (0.6378) level. In this case, the pair could reach the resistance at 6/8 (0.6408).
On M15, after a rebound from 5/8 (0.6378), a further price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD quotes are in the oversold area on H4. The RSI has broken the resistance line. In this situation, the quotes could rise above the 0/8 (0.5859) level, subsequently reaching the resistance level of 2/8 (0.5920). The scenario can be cancelled by a downward breakout of -1/8 (0.5828). In this case, the pair might drop to the support at -2/8 (0.5798).
On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of a further price rise.
