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 the prevalence of a downtrend. The RSI is testing the resistance area. In this situation, a downward breakout of the 4/8 (0.6591) level is expected, followed by a price decline to the support at 2/8 (0.6469). The scenario could be cancelled by rising above the resistance at 5/8 (0.6652), which could lead to a trend reversal and a price rise to 6/8 (0.6713).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD are in the oversold area on H4. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 0/8 (0.6103) and subsequently reach the resistance at 3/8 (0.6195). The scenario could be cancelled by a downward breakout of the support at -1/8 (0.6073), in which case the pair might drop to the -2/8 (0.6042) level.
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price rise.
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.
