AUDUSD Consolidation Could Help Aussie Dollar Recovery

<div><img width="1025" height="546" src="https://www.financebrokerage.com/wp-content/uploads/2023/03/My-project-1-12-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="NZD to AUD (novice traders) " decoding="async" loading="lazy" /></div><h1><strong>AUDUSD Consolidation Could Help Aussie Dollar Recovery</strong></h1>
<ul>
<li aria-level="1">In the previous week, the movement of the AUDUSD was volatile.</li>
<li aria-level="1">We have seen the AUDNZD retreat from 1.08330 to 1.06937 in the past two weeks until the previous Thursday.</li>
</ul>
<h2><b>AUDUSD chart analysis</b></h2>
<p>In the previous week, the movement of the AUDUSD was volatile. On Monday and Tuesday, we saw a consolidation that could have helped the Aussie dollar start a <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-slight-recovery-of-both-euro-and-pound/">recovery</a>. On Wednesday, the picture turned negative for the AUD, and the dollar began to dominate. This led us to see a pullback to the 0.65100 level on Thursday. The pair finds support at that level and quickly recovers above the 0.66000 level.</p>
<p>The joy was short-lived, and on Friday, we saw new pullbacks and a drop below previous support. During the previous Asian trading session, there were attempts to trigger the AUDUSD recovery but without the volume for a more concrete bullish move. The pair formed a low at 0.64860 and fell below the 0.65000 psychological level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-258752 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/02/a3SPyRHV-1024×599.jpg" alt="AUDUSD Chart Analysis" width="1024" height="599" /></p>
<h2><b>AUDNZD chart analysis</b></h2>
<p>We have seen the AUDNZD retreat from 1.08330 to 1.06937 in the past two weeks until the previous Thursday. There, we managed to get support and start a recovery that lasted until the end of Friday to the 1.07400 level. During the previous Asian session, the NZD strengthened, taking the pair to a daily low of 1.07200. The fall stops in the EU session, and we move sideways in the 1.07150-1.07250 range.</p>
<p>If the previous two-week trend continues, we will see a slide below and the formation of a new weekly low for the AUDNZD. Potential lower targets are 1.07000 and 1.06800 levels.</p>
<p>For a bullish option, we still need a jump above the 1.07500 level. That would also skip the EMA200 moving average. With their support, the potential higher targets are 1.07600 and 1.07700 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-258754 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/02/Nc1JvSS3-1024×599.jpg" alt="AUDNZD Chart Analysis" width="1024" height="599" /></p>
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