Murrey Math Lines 23.05.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, representing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 1/8 (0.6622) is expected, followed by a decline to the support level of 0/8 (0.6591). The scenario can be cancelled by rising above the resistance at 3/8 (0.6683), which could lead to a trend reversal and make the pair rise to 5/8 (0.6744).

On M15, a further decline in AUDUSD quotes could be supported by a breakout of the lower border of the VoltyChannel.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotes have broken the 200-day Moving Average out and are now above it, indicating possible development of an uptrend. The RSI is testing the support line. As a result, the pair is expected to rise above 6/8 (0.6286) and reach the resistance level of 8/8 (0.6347). The scenario can be cancelled by a downward breakout of the support level of 5/8 (0.6256). In this case, the pair could drop to 4/8 (0.6225).

On M15, the upper border of the VoltyChannel is broken. This enhances the probability of a further price increase on H4.