AUDUSD and AUDNZD: AUDUSD is making new high this morning

AUDUSD chart analysis

Today, a new 10-day high was formed for AUDUSD at the 0.67500 level. The pair made a breakthrough above last week’s high at 0.67330. This strengthened the bullish momentum, and we started to conquer higher levels further. There is a good chance that we will move above 0.67500 today and continue the bullish consolidation. Potential higher targets are 0.67600 and 0.67700 levels. The next high that could be interesting is until September 6 at 0.67674.

For a bearish option, we need a negative consolidation and a drop below the 0.67200 level. With that step, AUDUSD will pull back below the previous high and increase momentum to the bearish side. After that, 0.67000 is a very important support level. We also have the EMA 200 moving average in that zone, which could stop further retreat. Potential lower targets are 0.66900 and 0.66800 levels.

AUDNZD chart analysis

During this morning’s Asian trading session, the AUDNZD rose to the 1.09000 level. After the formation of today’s high, the pair retreated to support at 1.08800 support level. There we met the EMA 50 moving average which supported the AUDNZD to return to the bullish side. We are now at 1.08935 and have returned above the daily open price. We expect to continue the recovery to a new weekly high.

Potential higher targets are 1.09100 and 1.09200 levels. For a bearish option, we need a negative consolidation below the 1.08800 level. With that move, we move below the EMA 50 moving average. This will cause the AUDNZD to move lower and try to find new support. Potential lower targets are 1.08700 and 1.08600 levels.

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