Murrey Math Lines 06.12.2022 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support line. Currently, we should expect a test of 8/8 (0.6835), a breakaway of it, and growth to the resistance level of +1/8 (0.6958). The scenario can be cancelled by a downward breakaway of the support level at 7/8 (0.6713). In this case, correction will continue, and the quotes may drop to 6/8 (0.6591).
On M15, a breakaway of the upper line of VoltyChannel will increase the probability of price growth to +1/8 (0.6958) on H4.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes broke through 8/8 (0.6347) downwards ad exited the overbought area. The RSI is decreasing step by step to 30. A test of 7/8 (0.6225) is expected, followed by a breakaway and falling to the support level of 6/8 (0.6103). The scenario can be cancelled y rising over the resistance level of 8/8 (0.6347). This might entail growth of the pair to +1/8 (0.6469).
On M15, the lower line of VoltyChannel is broken away, which increases the probability of further price falling.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.