Murrey math lines: AUD/USD, NZD/USD
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI has broken the support line. In this situation, the price is expected to break the 2/8 (0.6408) level downwards and fall to the support at 0/8 (0.6347). The scenario can be cancelled by breaking the resistance level at 3/8 (0.6439), which could drive the price to 4/8 (0.6469).
On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of a further price decline.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD quotes are at the 200-day Moving Average on H4, which indicates the absence of any trend. The RSI is testing the resistance line. In this situation, the quotes are expected to test the 3/8 (0.5950) level, break it, and drop to the support at 1/8 (0.5889). The scenario can be cancelled by breaking the resistance level at 4/8 (0.5950). In this case, the pair could rise to 6/8 (0.6042).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
Author
RoboForex Team
RoboForex
RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.
