Murrey Math Lines 31.05.2022 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and resume falling towards 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart of NZDUSD, the situation is quite similar. The asset has broken the 200-day Moving Average and is currently trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may reverse and fall towards 4/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth to reach 7/8 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.