Murrey Math Lines 15.12.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, after rebounding from the resistance at 8/8, AUDUSD is expected to correct within the uptrend and reach the support at 5/8. However, this scenario may be canceled if the price breaks 8/8 to the upside. After that, the instrument may reverse and continue growing towards the resistance at +1/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, after failing to fix above 6/8, NZDUSD is trading below it. In this case, the price is expected to continue falling towards the closest support at 5/8. However, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may reverse and grow to reach the resistance at 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
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