AUD/USD and NZD/USD Could Eye Fresh Increase

FXOpen

AUD/USD started a fresh decline from the 0.6980 resistance. NZD/USD is also declining and might even trade below the 0.6150 support.

Important Takeaways for AUD/USD and NZD/USD

· The Aussie Dollar started a fresh decline below the 0.6920 support zone against the US Dollar.

· There is a key bearish trend line forming with resistance near 0.6880 on the hourly chart of AUD/USD.

· NZD/USD also started a major decline from the 0.6330 resistance zone.

· There is a major bearish trend line forming with resistance near 0.6215 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar attempted a fresh increase above the 0.6980 and 0.7000 levels against the US Dollar. However, the AUD/USD pair failed to continue higher above 0.6980 and started another decline.

There was a move below the 0.6950 and 0.6920 support levels. There was a close below the 0.6900 level and the 50 hourly simple moving average. The pair traded as low as 0.6821 and is currently showing a lot of bearish signs.

AUD/USD Hourly Chart

On the downside, an initial support is near the 0.6800 level. The next support could be the 0.6780 level. The main support is near the 0.6720 level. If there is a downside break below the 0.6720 support, the pair could extend its decline towards the 0.6650 level.

Any more downsides might send the pair toward the 0.6600 level. On the upside, the AUD/USD pair is facing resistance near the 0.6845 level. It is near the 23.6% Fib retracement level of the downward move from the 0.6919 swing high to 0.6821 low.

The next major resistance is near the 0.6870 level. It is near the 50% Fib retracement level of the downward move from the 0.6919 swing high to 0.6821 low.

There is also a key bearish trend line forming with resistance near 0.6880 on the hourly chart of AUD/USD. A close above the 0.6880 level could start a steady increase in the near term. The next major resistance could be 0.6950.

NZD/USD Technical Analysis

The New Zealand Dollar also followed a similar path from the 0.6330 zone against the US Dollar. The NZD/USD pair traded below the 0.6250 support zone to enter a bearish zone.

There was a clear move below the 0.6220 zone and the 50 hourly simple moving average. The pair traded as low as 0.6177 and is currently struggling to recover. On the upside, an initial resistance is near the 0.6205 level.

NZD/USD Hourly Chart

The 38.2% Fib retracement level of the downward move from the 0.6254 swing high to 0.6177 low is also near the 0.6205 level.

The next major resistance is near the 0.6215 level. There is also a major bearish trend line forming with resistance near 0.6215 on the hourly chart of NZD/USD. It is near the 50% Fib retracement level of the downward move from the 0.6254 swing high to 0.6177 low.

A clear move above the 0.6215 level might even push the pair towards the 0.6250 level. If not, the pair might continue lower. On the downside, an initial support is near the 0.6170 level.

The next support could be the 0.6150 zone. If there is a downside break below the 0.6150 support, the pair could extend its decline towards the 0.6100 level.

This forecast represents FXOpen Markets Limited opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Markets Limited products and services or as financial advice.

Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Forex Trading with FXOpen

Forex Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Access over 50 markets
  • Trade with spreads from 0.0 pips
  • Take advantage of commissions from $1.50/lot
Learn more

Latest articles

Shares

UnitedHealth (UNH) Share Price Plummets

UnitedHealth shares crashed by nearly 23% yesterday after the healthcare giant reported weaker-than-expected Q1 2025 results:

→ Earnings per share: actual = $7.20, expected = $7.29
→ Revenue: actual = $109.5bn, expected = $111.5bn

Technical Analysis of UNH Share Chart

As far

Indices

Stock Markets Consolidate Ahead of the Holidays

A lull is expected on the financial markets today due to a shortened trading week related to the Easter holiday celebrations.

It is reasonable to assume that traders will get a “breather” after a news-heavy April, which caused a volatile

Forex Analysis

The Pound and Euro Reach New Yearly Highs

Despite global economic instability and Donald Trump’s tariff policy, the EUR/USD and GBP/USD currency pairs are demonstrating upward momentum, reaching new yearly highs.

Today, market participants are focused on the European Central Bank meeting, where significant statements

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.