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 above it, thus indicating an ascending tendency. In this case, the price is expected to continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and fall towards the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
NZD/USD, “New Zealand Dollar vs US Dollar”
in the H4 chart, NZDUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and continue growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. In this case, the instrument may resume falling towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue its growth.
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