AUDUSD and AUDNZD: New Targets and Prices for Monday
- Last Friday, AUDUSD retreated to the 0.67856 level, forming a new 15-day low there
- Last week, AUDNZD was in a strong bullish trend from 1.08694 to 1.10500
AUDUSD chart analysis
Last Friday, AUDUSD retreated to the 0.67856 level, forming a new 15-day low there. During this morning’s Asian trading session, the pair attempted a bullish consolidation but stopped at the 0.68100 level. The new pressure in that zone did not allow us to continue with the recovery, but we were again forced to turn to the bearish side. The pair is now at 0.67925, returning below the daily open level.
With this move, we will test last week’s low and form this week’s new low. Potential lower targets are 0.67800 and 0.67700 levels. For a bullish option, AUDUSD must first find a new support level. After that, we can expect the start of bullish consolidation. The growth above 0.68100 takes us to a new daily high and confirms the bullish momentum. Potential higher targets are 0.68200 and 0.68300 levels.
AUDNZD chart analysis
Last week, AUDNZD was in a strong bullish trend from 1.08694 to 1.10500. During this morning’s Asian trading session, the pair continued to grow, forming a new October high at the 1.10534 level. For now, at the beginning of the EU session, we see a slight pullback to 1.10480, but we remain in the bullish channel. We will wait for new support before proceeding again to the bullish side.
Potential higher targets are 1.10600 and 1.10800 levels. For a bearish option, we need a negative consolidation to the daily open level. Failure of the AUDNZD to hold there will move it below to the downside. After that, the pair will be under pressure to start a further pullback to new support. Potential lower targets are 1.10200 and 1.10000 levels. The first possible support is the EMA 50 moving average in the 1.10300 zone.
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