NZDUSD and AUDUSD head into the Asian Pacific session near resistance targets

Both NZDUSD and AUDUSD tested key resistance levels toward the end of the U.S. session.

• NZDUSD: The pair reached a high of 0.56597, aligning with the downward-sloping 100-hour moving average, which now serves as a key resistance level. A breakout above this level would signal further bullish momentum. On the downside, the 200-hour moving average at 0.5642 acts as critical support—falling below it would shift the technical bias back to the downside.

• AUDUSD: After fluctuating around its 100-hour moving average on Monday and Tuesday, the pair gained momentum during the U.S. session today, reaching 0.63013, just below the upper boundary of a key swing area (0.6287 – 0.63016). However, price action saw a pullback, bringing it back toward the middle of this range. The swing area will be the barometer for buyers and sellers. Move above the upper extreme opens the door for further momentum toward the high price from January at 0.6331. Move below 0.6287 and the 100 hour moving average of 0.6276 becomes the target once again that if broken would add to a more bearish bias for the AUDUSD.

Both pairs are at pivotal technical levels, with breakouts likely to dictate the next directional move

This article was written by Greg Michalowski at www.forexlive.com.