Murrey Math Lines 28.05.2019 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, market players have been able not only to prevent AUDUSD from falling, but also attempted to push it upwards. Another thing to confirm a reverse was breakout of the downtrend line. As a result, in the nearest future the price may continue growing towards the 3/8 level. However, this scenario may no longer be valid if the instrument breaks the 1/8 level. In this case, the pair may resume falling to reach the support at the 0/8 one.

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

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, last week the pair was trying to break its consolidation range and continue falling, and it did succeed for a while. However, right now it is consolidating again: it tested the 3/8 level, but rebounded from it and may resume growing towards the resistance at the 5/8 one. However, this scenario may no longer be valid if the breaks the 3/8 level downwards. In this case, bears will continue dominating and the pair may resume falling to reach support at the 2/8 level.

In the H1 chart, the pair is trying to break its consolidation range upwards to continue the ascending tendency. In this case, the price may break the 6/8 level and then continue growing towards the resistance at the 8/8 one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may trade upwards.