By AUDUSD and AUDNZD: AUDNZD continues its pullback on Friday
- During this morning’s Asian trading session, AUDUSD encountered resistance at the 0.67400 level
- During this morning’s Asian session, the AUDNZD retreated to a new weekly low of 1.08122
AUDUSD chart analysis
During this morning’s Asian trading session, AUDUSD encountered resistance at the 0.67400 level. The EMA 200 moving average created additional pressure in that zone, causing us to see a pullback to the 0.67200 level. The pair is now under pressure with continued pullback as we fail to get back above the 0.67400 daily open price. By moving above, we will get the support of EMA 200, and it will be easier for us to continue our growth to higher levels.
Potential higher targets are 0.67500 and 0.67600 levels. For a bearish option, we need a negative consolidation and a drop in AUDUSD below the 0.67200 level. This will first form a new daily low and confirm that the pair is under bearish pressure. Potential lower targets are 0.67100 and 0.67000 levels. This week’s low is another step down at the 0.66857 level.
AUDNZD chart analysis
During this morning’s Asian session, the AUDNZD retreated to a new weekly low of 1.08122. The previous support at the weekly open price did not hold, and we saw a breakout below to a new low. The pair is still in the support zone, which could influence us to continue the pullback below. Potential lower targets are 1.08100 and 1.08000 levels. We had last week’s low for AUDNZD at 1.07982.
For a bullish option, we need a positive consolidation first above the weekly open level. After stabilizing above 1.08300, we hope for a continuation of the bullish side. A move to 1.08400 will have new support at the EMA 50 moving average. Potential higher targets are 1.08500 and 1.08600 levels. At 1.08600, we can expect higher resistance in the EMA 200 moving average, which was an obstacle for us to move to the bullish side on Monday.
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