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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, which reveals the prevalence of a downtrend. However, the RSI has formed a convergence, which is a signal for a possible price rise. As a result, the quotes should be expected to rise above 3/8 (0.6530), subsequently reaching the resistance at 4/8 (0.6591). The scenario could be cancelled by a downward breakout of the support at 2/8 (0.6469). In this case, the quotes might continue falling to the 1/8 (0.6408) level.

AUDUSD

On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a price rise.

AUDUSD

NZD/USD, “New Zealand Dollar vs US Dollar”

NZD/USD quotes are below the 200-day Moving Average on H4, which reveals the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 4/8 (0.6103) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.5981). The scenario could be cancelled by rising above the 4/8 (0.6103) level, in which case the quotes might rise to the resistance at 5/8 (0.6164).

NZDUSD

On M15, after a rebound from 4/8 (0.6103) on H4, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.

NZDUSD

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RoboForex Team

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.

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