Murrey Math Lines 09.07.2019 (AUDUSD, NZDUSD)

AUDUSD

In the H4 chart, AUDUSD is consolidating. In this case, the pair is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may continue growing towards the resistance at 6/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, NZDUSD is trading at 5/8. In this case, there are two possible scenarios. The first scenario implies that the pair may rebound from this level and resume growing to reach the resistance at 7/8. According to the second scenario, the price may break the level and then continue moving downwards to reach 3/8. Last Friday, bears attempted to break 5/8, but failed, that’s why the first scenario looks more promising.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.