AUD/USD, NZD/USD Charts and Evaluation
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AUD/USD, NZD/USD – Buying and selling Decrease
Final week , Aussie and Kiwi Rattled by a stronger USD. AUD/USD shut the weekly candlestick with a 1.6% loss. In the meantime, NZD/USD printed its lowest degree in practically 4 years at zero.6255 and closed on Friday with 1.eight% loss. This week, the market rallied barely with sellers possible taking revenue.
Alongside this, the Relative Energy Index (RSI) fell sharply from 60 to 39 on AUD/USD indicating that uptrend momentum has come to an finish. With Regards to NZD/USD the oscillator examined on Friday oversold territory reflecting the power of downtrend momentum.
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AUD/USD DAILY PRICE CHART (July 15, 2018 – Sep 24, 2019) Zoomed Out
AUD/USD DAILY PRICE CHART (June 21 – Sep 24, 2019) Zoomed IN
Trying on the day by day chart, we discover on Sep 19 AUD/USD declined to a decrease buying and selling zone zero.6826 – zero.6904 eyeing a take a look at of the low finish of it.
Thus, an in depth beneath the low finish might see additional bearish transfer in direction of zero.6631. Nonetheless, the weekly help space and degree marked on AUDUSD chart (zoomed in) can be price monitoring.
That mentioned, any failure in closing beneath the low finish might shift AUDUSD course to the upside in direction of the excessive finish of the zone. Additional shut above the excessive finish might push AUDUSD in direction of zero.6904. Though, the weekly resistance space and ranges underlined on the chart must be watched alongside the best way.
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NZD/USD DAILY PRICE CHART (April 15, 2017 – Sep 24, 2019) Zoomed Out
NZD/USD DAILY PRICE CHART (June 21 – Sep 24, 2019) Zoomed In
From the day by day chart, we discover on Sep 12 NZD/USD reversed course after a collection of failed makes an attempt to maneuver to increased buying and selling zone. Sellers took benefit of purchaser’s hesitation and pressed the worth decrease eyeing a take a look at of the low finish of Present buying and selling zone zero.6236 – zero.6438.
Therefore, an in depth beneath the low finish of the zone might see NZDUSD buying and selling in direction of zero.6136. Though weekly help degree underlined on the chart (zoomed in) must be monitored carefully. See the chart to know extra about decrease help degree worth would face in an additional bearish transfer.
On the flip aspect, any shut above zero.6450 might push NZDUSD in direction of zero.6555. In that situation, consumers must pay an in depth consideration on the weekly resistance ranges underscored on the chart.
Written By: Mahmoud Alkudsi
Please be at liberty to contact me on Twitter: @Malkudsi