Murrey math lines: AUD/USD, NZD/USD
|AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is approaching the oversold area. In this situation, a test of 3/8 (0.6530) is expected, followed by a rebound from this level and a rise to the resistance at 5/8 (0.6652). The scenario could be cancelled by a downward breakout of 3/8 (0.6530). In this case, the pair might drop to the support level of 2/8 (0.6469).
On M15, after a rebound from 3/8 (0.6530), a breakout of the upper boundary of the VoltyChannel might increase the probability of a price rise.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is approaching the support line. A test of 4/8 (0.6103) is expected, followed by a rebound from this level and a rise to the resistance at 6/8 (0.6225). The scenario could be cancelled by a downward breakout of 4/8 (0.6103). In this case, the pair might drop to the support at 3/8 (0.6042).
On M15, after a rebound from 4/8 (0.6103), the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
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.