Analysis
Murrey Math Lines 14.03.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the AUDUSD is below the 200-day Moving Average, indicating a prevailing downtrend. The RSI is testing the resistance line. In this situation, a break down of the 2/8 level (0.6591) is expec…
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the AUDUSD is below the 200-day Moving Average, indicating a prevailing downtrend. The RSI is testing the resistance line. In this situation, a break down of the 2/8 level (0.6591) is expected, followed by a fall in price to the 1/8 support (0.6469). The overcoming of the resistance 3/8 (0.6713) will be a cancellation of this scenario. In this case, the price could rise to the 4/8 level (0.6835).
On M15, an additional signal for a fall in price would be a break of the VoltyChannel bottom line.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the NZDUSD is also under the 200-day Moving Average, indicating a prevailing downtrend. The RSI is approaching the overbought area. In the current situation we should expect a test of the 1/8 level (0.6164) and its subsequent breakdown to the support at 0/8 (0.6103). Overcoming the 2/8 level (0.6225) may become a cancellation of the scenario. In this case, the price could reach resistance 3/8 (0.6286).
On M15, a break-down of the VoltyChannel bottom line will increase the probability of a decline to 0/8 (0.6103) from the H4 period.
