Murrey Math Lines 07.07.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is still trading inside the “overbought area”. However, the pair has already broken +1/8 and may continue growing to reach the resistance at +2/8. However, this scenario may be canceled if the price breaks +1/8 to the downside. After that, the instrument may continue falling towards the support 8/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, after breaking 5/8, NZDUSD is moving above it. In this case, the price is expected to break 6/8 and continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
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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