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, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of 2/8 (0.6530) is expected, followed by a price decline to the support at 1/8 (0.6500). The scenario might be cancelled by rising above the resistance at 3/8 (0.6561), which could lead to a trend reversal and make the pair grow to 5/8 (0.6622).
On M15, the lower boundary of the VoltyChannel is broken, which confirms the presence of a downtrend and increases the probability of a further price decline.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 6/8 (0.6164), subsequently growing to the resistance at 8/8 (0.6225). The scenario could be cancelled by a breakout of 5/8 (0.6103), which might lead to a trend reversal and a price decline to the support at 2/8 (0.6042).
On M15, the price growth could be additionally supported by a breakout of the upper 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.
