Murrey math lines: AUD/USD, NZD/USD
|AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD quotes have broken the 200-day Moving Average on H4 and are currently below it, revealing probable development of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 1/8 (0.6500) is expected, followed by a rebound from this level and a price rise to the resistance at 3/8 (0.6561). The scenario could be cancelled by a breakout of the 1/8 (0.6500) level, in which case, the quotes could drop to the support at 0/8 (0.6469).
On M15, after a rebound from 1/8 (0.6500) on H4, the growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
NZD/USD, “New Zealand Dollar vs US Dollar”
On the NZDUSD chart, the situation is similar. On H4, the quotes have broken the 200-day Moving Average and are below it, indicating the probability of an uptrend development, while the RSI has reached the oversold area. In these circumstances, a test of 2/8 (0.6042) is expected, followed by a rebound from this level and a price rise to the resistance at 4/8 (0.6103). The scenario might be cancelled by a breakout of 2/8 (0.6042), in which case, the quotes could drop to the support at 1/8 (0.6012).
On M15, after a rebound from 2/8 (0.6042) on H4, the growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
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