Murrey Math Lines 14.03.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the AUDUSD is below the 200-day Moving Average, indicating a prevailing downtrend. The RSI is testing the resistance line. In this situation, a break down of the 2/8 level (0.6591) is expected, followed by a fall in price to the 1/8 support (0.6469). The overcoming of the resistance 3/8 (0.6713) will be a cancellation of this scenario. In this case, the price could rise to the 4/8 level (0.6835).
On M15, an additional signal for a fall in price would be a break of the VoltyChannel bottom line.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the NZDUSD is also under the 200-day Moving Average, indicating a prevailing downtrend. The RSI is approaching the overbought area. In the current situation we should expect a test of the 1/8 level (0.6164) and its subsequent breakdown to the support at 0/8 (0.6103). Overcoming the 2/8 level (0.6225) may become a cancellation of the scenario. In this case, the price could reach resistance 3/8 (0.6286).
On M15, a break-down of the VoltyChannel bottom line will increase the probability of a decline to 0/8 (0.6103) from the H4 period.
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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