Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

AUDUSD and AUDNZD: AUDUSD is gaining support at  EMA 200

AUDUSD and AUDNZD: AUDUSD is gaining support at  EMA 200

On Friday evening, AUDUSD retreated to a new weekly low of 0.67516
Since the start of this morning’s Asian session, the AUDNZD has been in a bullish trend

AUDUSD chart analysis

On Friday evening, AUDUSD retreated to a new weekly low of 0.67516. After that, we saw a quick pullback above the 200 EMA and the 0.67600 level. During this morning’s Asian trading session, the pair managed again to test the support of the EMA 200 moving average. A bullish consolidation was initiated from that zone, and a new daily high was formed at the 0.67850 level. Here, we hope for new EMA 50 moving average support to continue on the bullish side.

Potential higher targets are the 0.67900 and 0.68000 levels. For a bearish option, we need a negative consolidation and a new drop down to the EMA 200 and 0.67600. That would be our third return to that level, but this time, a break below to a new daily low could happen. Potential lower targets are the 0.67500 and 0.67400 levels.

 

AUDNZD chart analysis

Since the start of this morning’s Asian session, the AUDNZD has been in a bullish trend. We started the day with 1.08250, and now we are at 1.08890. We are close to testing the EMA 200 moving average before continuing further up. If we skip the EMA 200 pair, we could start with a continuation on the bullish side. Potential higher targets are 1.09000 and 1.09100 levels.

For a bearish option, we need a new negative AUDNZD consolidation. By going down to 1.08700, we would establish the beginning of the pullback and thus strengthen the bearish momentum. After that, we need to pay attention to 1.08500 and the EMA 50 moving average. The momentum below will increase the pressure on AUDNZD to start a further pullback to the daily open price. Potential lower targets are the 1.08400 and 1.08300 levels.

 

The post AUDUSD and AUDNZD: AUDUSD is gaining support at  EMA 200 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com