Murrey Math Lines 20.12.2022 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, AUDUSD quotes have broken through the 200-day Moving Average and are resting under it, which hints on possible development of a downtrend. The RSI is nearing the oversold area. A downward breakaway of 5/8 (0.6652) is expected, followed by falling to the support level of 4/8 (0.6591). The scenario can be cancelled by rising over the resistance level of 6/8 (0.6713). In this case, the pair may rise to 7/8 (0.6774).
On M15, the lower line of VoltyChannel is broken away, which indicates a high probability of further price falling.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. A convergence has appeared on the RSI. As a result, we should expect a breakaway of the resistance level of 4/8 (0.6347) and growth to 5/8 (0.6469). The scenario can be cancelled by a downward breakaway of the support level of 3/8 (0.6225), which might lead to a trend reversal and falling to 2/8 (0.6103).
On M15, an additional signal confirming the growth will be a breakaway of the upper border of VoltyChannel.
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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