AUD/USD, NZD/USD Charts and Evaluation
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AUD/USD, NZD/USD – Sellers in Cost
On Sep 12, AUD/USD spiked to zero.6894 – its highest stage in six weeks. Since then consumers has not been in a position to rally the value above this stage. This week, sellers took the initiative and pressed the value beneath zero.6800 deal with.
Alternatively, final week NZD/USD failed 4 occasions to clear zero.6438 – a key resistance stage mentioned in our final replace. This week the pair declined and examined zero.6200 deal with.
Alongside this, the Relative Energy Index (RSI) fell from 63 and crossed beneath 50 on AUD/USD reflecting a attainable begin of a contemporary downtrend. The oscillator, did not cross above 50 on NZD/USD then fell after, emphasizing the present downtrend was nonetheless intact.
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AUD/USD DAILY PRICE CHART (July 15, 2018 – Sep 19, 2019) Zoomed Out
AUD/USD DAILY PRICE CHART (June 21 – Sep 19, 2019) Zoomed IN
Trying on the day by day chart, we discover yesterday AUD/USD examined a decrease buying and selling zone zero.6744 – zero.6826. At this time, the value rebounded from the excessive finish and presently searching for a take a look at of the low finish.
Therefore, an in depth beneath the excessive finish of the zone as we speak might improve the chance of testing the low finish of the zone. Additional shut beneath the low finish might ship AUDUSD in direction of zero.6631. Though, the weekly help ranges underlined on the chart (zoomed in) can be value monitoring.
In flip, an in depth above the excessive finish of the zone might push the value in direction of zero.6894. Additional shut above zero.6904 may see AUDUSD buying and selling even larger in direction of zero.6984. Nevertheless, the day by day and weekly resistance ranges underscored on the chart needs to be stored in focus.
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NZD/USD DAILY PRICE CHART (April 15, 2017 – Sep 19, 2019) Zoomed Out
NZD/USD DAILY PRICE CHART (June 21 – Sep 19, 2019) Zoomed In
From the day by day chart, we discover since Sep 6 NZD/USD has failed in a number of events close by the excessive finish of present buying and selling zone zero.6236 – zero.6438. The worth modified route eyeing a take a look at of the low finish.
Therefore, an in depth beneath the low finish of the zone might ship NZDUSD in direction of zero.6136. Additional shut beneath this stage might even see the pair buying and selling even decrease in direction of zero.5989. Nonetheless, the weekly help ranges underlined on the chart (zoomed in) needs to be thought-about.
On the flip-side, any failure to shut beneath the low finish of the zone might reverse the pair’s course sending it in direction of the excessive finish of the zone. Additional shut above the excessive finish might ship NZDUSD in direction of the neighborhood of zero.6555-65. That mentioned, consumers have to keep watch over the weekly resistance space and stage marked on the chart.
Written By: Mahmoud Alkudsi
Please be happy to contact me on Twitter: @Malkudsi