Murrey Math Lines 22.06.2021 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to test 3/8, rebound from it, and then resume moving upwards to reach the resistance at 5/8. However, this scenario may be canceled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, after breaking 2/8, NZDUSD is trading above it. In this case, the price is expected to test 3/8, break it, and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. In this case, the instrument may fall towards the support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth to reach 4/8 from the H4 chart.
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.