Murrey math lines: AUD/USD, NZD/USD
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD quotes have broken above the 200-day Moving Average on D1, indicating the potential development of an uptrend. The RSI is approaching the support line. In this situation, the price is expected to surpass the 4/8 (0.6591) level and rise to the resistance at 6/8 (0.6713). The scenario could be cancelled by a breakout of the 3/8 (0.6530) level. In this case, the quotes might retrace to the support at 2/8 (0.6469).
On M15, a breakout of the upper line of the VoltyChannel will increase the probability of price growth.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD quotes are below the 200-day Moving Average on D1, indicating a prevailing downtrend. The RSI is testing from the resistance line. In this situation, the price is expected to break below the 2/8 (0.5981) level and maintain its downward trajectory to the support at 0/8 (0.5859). The scenario could be cancelled if the price surpasses the 3/8 (0.6042) level. In this case, the quotes might reach the resistance at 4/8 (0.6103).
On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.
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.
