Murrey Math Lines 22.11.2022 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the quotes are going below the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI in nearing the oversold area. Currently, we should expect a test of 7/8 (0.6713), a breakaway of it, and growth to the resistance level of 8/8 (0.6835). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (0.6591), which might lead to a trend reversal and falling to 5/8 (0.6469).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of growth to 8/8 (0.6835) on H4.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are going below the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support line. Currently, we expect a test of 7/8 (0.6225), a breakaway, and growth to the resistance of 8/8 (0.6347). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (0.6103), which might lead to falling to 5/8 (0.5981).
On M15, a breakaway of the upper border of VoltyChannel will be an additional signal for growth.
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.