Murrey math lines: AUD/USD, NZD/USD
|AUD/USD, “Australian Dollar vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading below it to indicate a possible descending tendency. In this case, the price is expected to break 6/8 and then continue moving downwards to reach the support at 5/8. However, this scenario may be canceled if the price breaks 7/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the Volty Channel indicator and, as a result, may continue trading downwards.
NZD/USD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break 2/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. In this case, the instrument may grow towards 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the Volty Channel indicator and, as a result, may continue its decline to reach 0/8 from the H4 chart.
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