Murrey Math Lines 22.11.2022 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are going below the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI in nearing the oversold area. Currently, we should expect a test of 7/8 (0.6713), a breakaway of it, and growth to the resistance level of 8/8 (0.6835). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (0.6591), which might lead to a trend reversal and falling to 5/8 (0.6469).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of growth to 8/8 (0.6835) on H4.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are going below the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support line. Currently, we expect a test of 7/8 (0.6225), a breakaway, and growth to the resistance of 8/8 (0.6347). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (0.6103), which might lead to falling to 5/8 (0.5981).
On M15, a breakaway of the upper border of VoltyChannel will be an additional signal for growth.
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