Murrey Math Lines 01.11.2022 (AUDUSD, NZDUSD)
AUDUSD, "Australian Dollar vs US Dollar"
On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI earlier bounced off 70 and is going down step by step. Currently, we should expect a test of 4/8 (0.6347), a breakaway of it, and falling to the support level of 3/8 (0.6225). The scenario can be cancelled by rising over the resistance level of 5/8 (0.6469). In this case, the pair might rise to 6/8 (0.6591).
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of price falling to 3/8 (0.6225) on H4.
NZDUSD, "New Zealand Dollar vs US Dollar"
On H4, the quotes have broken through the 200-day Moving Average and are now above it, which indicates possible development of an uptrend. The RSI bounced off the support level. Currently, we should expect the quotes to rise over 4/8 (0.5859) and grow to the resistance level of 5/8 (0.5981). The scenario can be cancelled by a downward breakaway of the support level of 3/8 (0.5737). This can provoke price falling to 2/8 (0.5615).
On M15, the upper line of VoltyChannel is broken, which signifoes an uptrend and a high probability of further growth.
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