Murrey Math Lines 11.06.2024 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 5/8 (0.6652) level and rise to the resistance at 6/8 (0.6713). A breakout below the 4/8 (0.6591) level could cancel this scenario, potentially leading to a trend reversal and a decline to the 3/8 (0.6530) support level.
On M15, a breakout above the upper line of the VoltyChannel would provide an additional signal supporting the price increase.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the support line. In this situation, the price is expected to test the 5/8 (0.6164) level, breach it, and rise to the resistance at 6/8 (0.6225). The scenario could be cancelled by a breakout of the 4/8 (0.6103) level, potentially leading to a trend reversal and a fall to the 3/8 (0.6042) support level.
On M15, another breakout above the VoltyChannel upper line will increase the probability of a price rise.
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.