AUD/USD and NZD/USD Are Gaining Bullish Momentum
AUD/USD is gaining bullish momentum and it recently broke the 0.6800 resistance area. NZD/USD is also showing a lot of positive signs and it recently settled above the 0.6350 hurdle.
AUD/USD Technical Analysis
This week, the Aussie Dollar formed a major support near the 0.6740 area and started a fresh increase against the US Dollar. The AUD/USD pair broke many key resistances near 0.6750 and 0.6760 to move into a positive zone.
There was a close above the key 0.6800 resistance area and the 50 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near 0.6760 on the hourly chart of AUD/USD.
The pair even broke the 0.6820 resistance, traded to a new high near 0.6838 on FXOpen, it is currently consolidating losses. An immediate support is near the 0.6820 level.
Moreover, the 23.6% Fib retracement level of the recent wave from the 0.6775 low to 0.6838 high is also near the 0.6820 level. There is also a rising channel forming with support near the 0.6820 level on the hourly chart.
Read more about AUD/USD And NZD/USD on FXOpen blog...
AUD/USD is gaining bullish momentum and it recently broke the 0.6800 resistance area. NZD/USD is also showing a lot of positive signs and it recently settled above the 0.6350 hurdle.
AUD/USD Technical Analysis
This week, the Aussie Dollar formed a major support near the 0.6740 area and started a fresh increase against the US Dollar. The AUD/USD pair broke many key resistances near 0.6750 and 0.6760 to move into a positive zone.
There was a close above the key 0.6800 resistance area and the 50 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near 0.6760 on the hourly chart of AUD/USD.
The pair even broke the 0.6820 resistance, traded to a new high near 0.6838 on FXOpen, it is currently consolidating losses. An immediate support is near the 0.6820 level.
Moreover, the 23.6% Fib retracement level of the recent wave from the 0.6775 low to 0.6838 high is also near the 0.6820 level. There is also a rising channel forming with support near the 0.6820 level on the hourly chart.
Read more about AUD/USD And NZD/USD on FXOpen blog...