Murrey Math Lines 18.07.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is testing the support line. In these circumstances, the price is expected to break the 8/8 (0.6835) level and continue growing to the resistance level of +2/8 (0.6658). The scenario can be cancelled by a downward breakout of 7/8 (0.6774). In this case, the pair might fall to the support at 6/8 (0.6713).
On M15, the growth of the pair can be additionally supported by a breakout of the upper boundary of the VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
On the H4 NZDUSD chart, the situation is similar: the quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend, and the RSI is testing the support line. In these circumstances, the price is expected to crush the 8/8 (0.6347) level and advance to the resistance of +2/8 (0.6469). The scenario can be cancelled by a downward breakout of the support at 7/8 (0.6286), which might lead to a decline to 6/8 (0.6225).
On M15, a breakout of the upper boundary of the VoltyChannel will increase the probability of a further rise.
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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