Murrey Math Lines 09.08.2022 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and resume falling to return to 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.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart of NZDUSD, the situation is similar. after breaking the 200-day Moving Average, NZDUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 6/8 and continue moving upwards to reach the resistance at 8/8. On the other hand, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may continue falling towards 3/8.
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 its growth to reach 8/8 from the H4 chart.
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