Murrey Math Lines 14.02.2023 (AUDUSD, NZDUSD)

By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes have broken through the 200-day Moving Average and are now above it, which reveals possible development of an uptrend. The RSI has bounced off the support line. An upward breakaway of 7/8 (0.7019) should be expected, followed by growth of the resistance level of 8/8 (0.7080). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (0.6897). In this case, the pair may drop to 3/8 (0.6774).

On M15, the upper line of VoltyChannel is broken away, which increases the probability of further growth on H4.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, which reveals the prevalence of a downtrend. The RSI is testing the resistance line. A test of 3/8 (0.6286) is expected, followed by falling to the support level of 2/8 (0.6225). The scenario can be cancelled by rising over the resistance level of 5/8 (0.6408), which might lead to a trend reversal and growth to 6/8 (0.6469).

On M15, an additional signal confirming the decline will be a breakaway of the lower border of VoltyChannel.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.