AUD/USD and NZD/USD Face Key Hurdles, Downtrend Intact – Analytics & Forecasts – 23 September 2022

AUD/USD is facing strong resistance near the 0.6660 area. NZD/USD is also struggling to clear the 0.5900 resistance zone.

Important takeaways for AUD/USD and NZD/USD

· The Australian dollar started a fresh decline from well above the 0.6700 area against the US dollar.

· There is a key bearish trend line forming with resistance near 0.6650 on the AUD/USD hourly chart.

· NZD/USD started an upward correction from the 0.5800 support zone.

· There is a connecting bearish trend line forming with resistance near 0.5850 on the NZD/USD hourly chart.

AUD/USD Technical Analysis

The Australian dollar failed to hold above the 0.6700 level and started a new decline against the US dollar. The AUD/USD pair traded below the 0.6650 support zone to move into a bearish zone.

There was a clear move below the 0.6620 level and the 50-hour simple moving average. The pair traded as high as 0.6575 on FXOpen and recently started an upward correction. There was a move above the 0.6620 level… Read more: blog FXOpen

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