AUDUSD and AUDNZD: Targets and Prices Weekly Overview
- During this morning’s Asian trading session, the AUDUSD rose to 0.67230
- On Friday, 18 October, AUDNZD rose to 1.10764, a new weekly high
AUDUSD chart analysis
During this morning’s Asian trading session, the AUDUSD rose to 0.67230. The pair met the EMA 200 at that level, which did not allow us to continue on the bullish side. AUDUSD starts from there with a bearish consolidation to the daily low at 0.66820 level. We will see a further pullback to a new low if we don’t stabilize and stop soon.
Potential lower targets are 0.66700 and 0.66600 levels. For a bullish option, the pair must stop the current bearish consolidation. A retracement above 0.67000 will get support from the EMA 50 moving average. After that, we expect a move above the daily open level to the positive side. Potential higher targets are 0.67100 and 0.67200 levels. If we want to see further growth, we will have to break the EMA 200 moving average in the 0.67200 zone.
AUDNZD chart analysis
On Friday, 18 October, AUDNZD rose to 1.10764, a new weekly high. We quickly encountered resistance at that level, and the pair began to retreat later in the day. During this morning’s Asian session, the fall to the bearish side continued to the 1.10300 level. After a short consolidation, we get the required support at that level and grow to 1.10450. Here we meet the EMA 50 moving average and hope for its support in the further continuation of the recovery.
Potential higher targets are 1.10500 and 1.10600 levels. For a bearish option, we need a negative consolidation and pullback of AUDNZD below 1.10300 and the EMA 200 moving average. That step increases bearish pressure on the pair to continue its retreat to a new daily low. Potential lower targets are 1.10200 and 1.10100 levels.
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