Murrey Math Lines 25.04.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In these circumstances, a downward breakout of 2/8 (0.6652) can be expected, followed by a decline to the support at 1/8 (0.6622). The scenario can be canceled by rising above the resistance at 4/8 (0.6713), which might lead to a trend reversal and growth of the pair to 5/8 (0.6744).
On M15, the lower line of the VoltyChannel is broken out. This indicates the prevalence of a downtrend and a high probability of further falling.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are also under the 200-day Moving Average, which reveals the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 2/8 (0.6164) is expected, followed by a decline to the support at 0/8 (0.6103). The scenario can be canceled by rising above the resistance at 3/8 (0.6195). In this case, the pair could correct to 4/8 (0.6225).
On M15, further falling of the quotes can be additionally supported by a breakout of the lower 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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