AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. However, a divergence has formed on the RSI. As a result, a test of 4/8 (0.6591) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.6469). The scenario could be cancelled by rising above 4/8 (0.6591). In this case, the pair might continue rising and reach the resistance at 5/8 (0.6652).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
NZD/USD, “New Zealand Dollar vs US Dollar”
On the NZDUSD chart, the situation is similar. The pair quotes are above the 200-day Moving Average, which reveals the prevalence of an uptrend, and a divergence has formed on the RSI chart. n this situation, a breakout of the 3/8 (0.6042) level is expected, followed by a decline to the support at 1/8 (0.5920). The scenario can be cancelled by rising above the 4/8 (0.6103) level. In this case, the pair might reach the resistance at 5/8 (0.6164).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of the price decline.
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
EUR/USD bounces back, trades above 1.0860
EUR/USD bounced from a fresh weekly low of 1.0827, as the US Dollar lost steam following a weak ISM Manufacturing PMI report and words from Federal Reserve Chair Jerome Powell. Powell reiterated its hawkish message, dismissing potential rate cuts in the near future.
GBP/USD turns north ahead of the weekly close, approaches 1.2700
GBP/USD extended its rebound from near 1.2600 and is approaching 1.2700 on the back of a weaker US Dollar. The Greenback accelerated to the downside following comments from Fed’s Powell.
Gold resumes advance and approaches record highs
Gold remains near record highs and achieved its highest monthly close ever in November. Global bond yields continue to decline as inflation further cools, supporting the upside in XAU/USD. With central banks expected to remain on hold, the focus will be US labor market data.
Solana likely to extend gains as DeFi airdrop season could boost user base
Solana ecosystem will see airdrops from projects like Jupiter, Marginfi, Drift, Zeta and Jito. Solana users are projected to increase between 30% and 80% from native token launches, according to Messari’s latest report. SOL price extends rally, yielding nearly 4% daily gains.
Tesla Stock News: Cybertruck excitement fails to sustain TSLA price as chart signals more downside
TSLA stock sinks three days in a row despite Cybertruck unveiling. Analysts conclude that Cybertruck will find it difficult to turn a profit. TSLA stock is the midst of forming a bearish Three Black Crows pattern on the daily chart.