Home Economy AUDUSD is recovering, AUDNZD is getting closer to 1.09000

AUDUSD is recovering, AUDNZD is getting closer to 1.09000

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AUDUSD is recovering, AUDNZD is getting closer to 1.09000 

AUDUSD is recovering after Friday’s drop to the 0.65100 support zone.
During the Asian trading session, AUDNZD climbed to a new March high at the 1.08884 level.

AUDUSD chart analysis

AUDUSD is recovering after Friday’s drop to the 0.65100 support zone. During this morning’s Asian trading session, the pair initiates a bullish consolidation and makes a high at the 0.65450 level. After which we return to test the support at the 0.665200 level. From the new support, we start to recover again and move to the 0.65350 level. Here, we come across the EMA50 moving average, and we would have to cross it, too, for a better position on the bullish side.

Potential higher targets are 0.65500 and 0.65600 levels. In the zone around 0.65550, we meet the EMA200, and we can hope for greater resistance there. We need a pullback to the 0.65200 support level for a bearish option. Going down, we will again be under bearish pressure to test Friday’s support zone. Potential lower targets are 0.65100 and 0.65000 levels.

AUDNZD chart analysis

During the Asian trading session, AUDNZD climbed to a new March high at the 1.08884 level. After that, we see a short pullback to the 1.08750 support level. For now, we are holding on here, but we remain under slight pressure. This could influence us to see a drop below and the formation of a new daily low. With that, we get confirmation of bearish pressure and expect a continuation in that direction.

Potential lower targets are 1.08700 and 1.08600 levels. We need a positive consolidation and a break above the 1.08900 level for a bullish option. This leads to a new daily high, which strengthens the optimism for the further continuation and growth of the AUDNZD. Potential higher targets are 1.09000 and 1.09100 levels.

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