Murrey math lines: AUD/USD, NZD/USD
|AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD quotes and the RSI on H4 are in their respective oversold areas. In this situation, a rebound from -1/8 (0.6317) could be expected, followed by a rise to the resistance at 1/8 (0.6378). The scenario can be cancelled by a rebound from -1/8 (0.6317). In this case, the quotes might continue falling, probably reaching the support level of -2/8(0.6286).
On M15, the upper boundary of the VoltyChannel is too far away from the current price, which means the growth of the quotes could only be indicated by a rebound from -1/8 (0.6317) on H4.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD quotes have broken the 200-day Moving Average on H4, reaching below it, which reveals the chance for a downtrend to develop. The RSI is nearing the oversold area. As a result, a test of 1/8 (0.5889) is expected, followed by a rebound from it and a rise to the resistance at 3/8 (0.5950). The scenario can be cancelled by a downward breakout of 1/8 (0.5889), in which case the quotes might drop to the support at 0/8 (0.5859).
On M15, the upper boundary of the VoltyChannel is too far away from the current price, which means the growth of the quotes could only be indicated by a rebound from 1/8 (0.5889) on H4.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.