FXOpen Trader Posted October 28, 2022 Author Share Posted October 28, 2022 AUD/USD and NZD/USD Aim More Upsides AUD/USD is moving higher and showing positive signs above 0.6400. NZD/USD is also rising and might aim more upsides above 0.5850. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh increase above the 0.6350 and 0.6400 levels against the US Dollar. There is a key bullish trend line forming with support at 0.6460 on the hourly chart of AUD/USD. NZD/USD is showing a lot of bullish signs above the 0.5800 support zone. There is a major bullish trend line forming with support at 0.5820 on the hourly chart of NZD/USD. AUD/USD Technical Analysis The Aussie Dollar formed a base above the 0.6200 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace above the 0.6300 level to move into a positive zone. There was a clear move above the 0.6350 level and the 50 hourly simple moving average. The pair even climbed above the 0.6500 level and traded as high as 0.6522. It is now correcting gains and trading below the 0.6500 level. AUD/USD Hourly Chart It spiked below the 23.6% Fib retracement level of the upward move from the 0.6210 swing low to 0.6522 high. On the downside, an initial support is near the 0.6460 level. There is also a key bullish trend line forming with support at 0.6460 on the hourly chart of AUD/USD. The next support could be the 0.6400 level. If there is a downside break below the 0.6400 support, the pair could extend its decline towards the 0.6365 level. The 50% Fib retracement level of the upward move from the 0.6210 swing low to 0.6522 high is also near 0.6365. On the upside, the AUD/USD pair is facing resistance near the 0.6500 level. The next major resistance is near the 0.6520 level. A close above the 0.6520 level could start a steady increase in the near term. The next major resistance could be 0.6580. VIEW FULL ANALYSIS VISIT - FXOpen Blog... Disclaimer: CFDs are complex instruments and come with a high risk of losing your money. Quote Link to comment Share on other sites More sharing options...
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