Murrey Math Lines 16.04.2024 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"

AUDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of the 1/8 (0.6408) level is expected, followed by a price decline to the support at 0/8 (0.6437). The scenario might be cancelled by rising above 2/8 (0.6469), in which case the quotes could correct to the resistance at 3/8 (0.6530).

On M15, the lower boundary of the VoltyChannel is breached, which increases the probability of a further price decline.

NZDUSD, "New Zealand Dollar vs US Dollar"

NZDUSD quotes and the RSI are approaching their oversold areas on D1. In this situation, a test of 0/8 (0.5859) is expected, followed by a rebound from this level and a rise to the resistance at 2/8 (0.5981). In this case, the quotes might drop to the support at -1/8 (0.5798).

On M15, after a rebound from the 0/8 (0.5859) level on D1, the price growth might be additionally confirmed by a breakout of the upper boundary of the VoltyChannel.