Murrey Math Lines 27.06.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken the 200-day Moving Average on H4 and is above the line now, revealing the probable development of an uptrend. The RSI is testing the resistance line. As a result, a test of 7/8 (0.6774) is expected, followed by a breakout and a rise to the resistance level of 8/8 (0.6835). The scenario can be cancelled by a downward breakout of the support level of 5/8 (0.6652). In this case, the pair could drop to 4/8 (0.6591).

On M15, the upper line of the VoltyChannel is broken. This increases the probability of a further price rise.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to rise above 6/8 (0.6225), later reaching the resistance level of 7/8 (0.6286). The scenario can be cancelled by a downward breakout of 5/8 (0.6164), which might lead to a trend reversal and a decline to the support level of 4/8 (0.6103).

On M15, the upper line of the VoltyChannel is broken. This indicates the prevalence of an uptrend and increases the probability of a further price rise.