AUD/USD, “Australian Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is nearing the resistance line. In these circumstances, we expect the quotes to test 2/8 (0.6713), make a rebound off it, and fall to the support level of 0/8 (0.6591). The scenario can be canceled by an upward breakaway of the resistance at 2/8 (0.6713). In this case, the pair might rise to 3/8 (0.6874).
On M15, the lower line of the VoltyChannel indicator is too far away from the current price, so the decline of the quotes can only be indicated by a rebound from 2/8 (0.6713) on H4.
NZD/USD, “New Zealand Dollar vs US Dollar”
The situation on the NZDUSD chart is similar. On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend, and the RSI is nearing the resistance line. In this situation, we should expect the price to break 4/8 (0.6225) downwards and fall to the support at 2/8 (0.6164). The scenario can be canceled is the price rises above the resistance at 5/8 (0.6256), which might lead to a trend reversal and growth of the pair to 6/8 (0.6286).
On M15, the decline of the price on H4 can be additionally supported by a breakaway of the lower line of VoltyChannel.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.