Murrey Math Lines 21.02.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has bounced off the resistance line. Now, a downward breakaway of 5/8 (0.6897) is to be expected, followed by falling to the support level of 4/8 (0.6835). The scenario can be cancelled by rising over the resistance level of 6/8 (0.6958), which may lead to a trend reversal and growth to the pair to 7/8 (0.7019).
On M15, an extra signal confirming the decline can be given by a breakaway of the lower border of VoltyChannel.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, indicating prevalence of a downtrend. The RSI has bounced off the resistance line. A test of 2/8 (0.6225) is to be expected, followed by a breakaway and falling to the support level of 1/8 (0.6164). The scenario can be cancelled by rising above the resistance level of 3/8 (0.6286). In this case, the pair may correct to 4/8 (0.6347).
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of further decline.
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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