Murrey Math Lines 04.04.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, AUDUSD quotes have broken the 200-day Moving Average and are now above it, hinting on possible development of an uptrend. The RSI is testing the support line. In these circumstances, we expect the price to rise above 3/8 (0.6774) and afterwards grow to the resistance at 4/8 (0.6835). The scenario can be canceled by a downward breakout of the support at 2/8 (0.6713). In this case, the pair could drop to 1/8 (0.6652).
On M15, the upper line of the VoltyChannel indicator is broken. This increases the probability of further price growth.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the resistance line. In this situation, we expect the price to rise above 7/8 (0.6317) and grow to the resistance at 8/8 (0.6347). The scenario can be canceled by a downwards breakout of the support at 6/8 (0.6286). In this case, the pair could drop to 4/8 (0.6225).
On M15, the upper line of VoltyChannel is broken. This indicates the prevalence of an uptrend and a high probability of further price growth.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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