Murrey Math Lines 30.03.2021 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. However, right now, the asset is correcting upwards and may reach 2/8. In this case, the price is expected to test 2/8, rebound from it, and then resume moving downwards to reach the support at 0/8. However, this scenario may be canceled if the price breaks 1/8 to the downside. After that, the instrument may fall towards 0/8 without testing 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart of NZDUSD, the price is also trading below the 200-day Moving Average and correcting. In this case, the price is expected to test 2/8, rebound from it, and then fall to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. In this case, the instrument may complete the correction and continue falling towards the support at 0/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline to reach 0/8 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.