Murrey Math Lines 10.12.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is consolidating. In this case, the pair is expected to break 4/8 and continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling to reach the support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 5/8 from the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is expected to test the resistance at 8/8. According to the main scenario, the pair may rebound from this level and resume falling to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 8/8. After that, the instrument may start a new growth towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.