AUDUSD and AUDNZD: AUDUSD jumped above 0.65500 

• During this morning’s Asian trading session, we saw the AUDUSD break above the previous high and form a new one. 
• During the Asian trading session, the AUDNZD initiated a bullish consolidation that took us to a new weekly high at the 1.09867 level. 

AUDUSD chart analysis

During this morning’s Asian trading session, we saw the AUDUSD break above the previous high and form a new one. In the EU session, AUD continues to dominate up to the 0.65544 level, a new weekly high. Since the beginning of this week, we have been in a stable bullish consolidation above the EMA50 and EMA200 moving averages. We are now in a slight pullback to 0.65350 and a possible drop to this morning’s support at 0.65200. 

In this zone, we will be testing additional support in the EMA50 moving average. It’s crucial to note the potential lower targets at 0.65100 and 0.65000 levels if the support does not hold. We need a positive consolidation and a return up to the 0.65500 level for a bullish option. This brings us closer to testing the weekly high and we anticipate a move above to a new one. It’s also important to consider the potential higher targets at 0.65600 and 0.65700 levels.

AUDNZD chart analysis

During the Asian trading session, the AUDNZD initiated a bullish consolidation that took us to a new weekly high at the 1.09867 level.

We had a similar situation on Wednesday and the first attempt to reach the 1.09900 level. We then stopped at 1.09838, followed by a two-day consolidation to support at the 1.09500 level.

We are currently at the 1.09790 level and can hope for a new impulse and jump to a new high. Potential higher targets are 1.09900 and 1.10000 levels.

We need a negative consolidation and a drop below the 1.09700 level for a bearish option. With that step, we start the withdrawal and the bearish scenario. Potential lower targets are 1.09600 and 1.09500 levels. Additional support for the AUDNZD could be found in the EMA50 at 1.09500.