AUD/USD is consolidating gains from the 0.6825 zone. NZD/USD is showing positive signs and might attempt a fresh increase above 0.6275.

Important Takeaways for AUD USD and NZD USD Analysis Today

· The Aussie Dollar rallied above the 0.6735 and 0.6750 resistance levels against the US Dollar.

· There is a key bullish trend line forming with support at 0.6795 on the hourly chart of AUD/USD at FXOpen.

· NZD/USD is correcting gains from the 0.6300 zone.

· There is a major bullish trend line forming with support at 0.6255 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from the 0.6700 support. The Aussie Dollar was able to clear the 0.6735 resistance to move into a positive zone against the US Dollar, as mentioned in the previous analysis.

There was a close above the 0.6750 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6825 zone. A high was formed near 0.6824 and the pair recently saw a minor pullback.

There was a move below the 0.6810 level. The pair declined below the 50% Fib retracement level of the upward move from the 0.6764 swing low to the 0.6824 high. On the downside, initial support is near a key bullish trend line at 0.6795.

The next major support is near the 76.4% Fib retracement level of the upward move from the 0.6764 swing low to the 0.6824 high at 0.6780.

If there is a downside break below the 0.6780 support, the pair could extend its decline toward the 0.6750 level. Any more losses might signal a move toward 0.6735.

On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6810. The first major resistance might be 0.6825. An upside break above the 0.6825 resistance might send the pair further higher.

The next major resistance is near the 0.6880 level. Any more gains could clear the path for a move toward the 0.7000 resistance zone.

NZD/USD Technical Analysis

On the hourly chart of NZD/USD on FXOpen, the pair started a steady increase from the 0.6140 zone. The New Zealand Dollar broke the 0.6200 resistance to start the recent increase against the US Dollar.

The pair settled above 0.6235 and the 50-hour simple moving average. It tested the 0.6300 zone and is currently correcting gains. The pair corrected lower below the 0.6275 level. The pair also traded below the 23.6% Fib retracement level of the upward wave from the 0.6194 swing low to the 0.6298 high.

The NZD/USD chart suggests that the RSI is now below 50. On the downside, there is major support forming near 0.6255 and a trend line.

The next major support is near the 61.8% Fib retracement level of the upward wave from the 0.6194 swing low to the 0.6298 high at 0.6235.

If there is a downside break below the 0.6235 support, the pair might slide toward the 0.6195 support. Any more losses could lead NZD/USD in a bearish zone to 0.6160.

On the upside, the pair might struggle near 0.6275. The next major resistance is near the 0.6300 level. A clear move above the 0.6300 level might even push the pair toward the 0.6340 level. Any more gains might clear the path for a move toward the 0.6400 resistance zone in the coming days.

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