Murrey Math Lines 06.12.2022 (AUDUSD, NZDUSD)

murrey math lines 06122022 audusd nzdusd

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support line. Currently, we should expect a test of 8/8 (0.6835), a breakaway of it, and growth to the resistance level of +1/8 (0.6958). The scenario can be cancelled by a downward breakaway of the support level at 7/8 (0.6713). In this case, correction will continue, and the quotes may drop to 6/8 (0.6591).

On M15, a breakaway of the upper line of VoltyChannel will increase the probability of price growth to +1/8 (0.6958) on H4.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotes broke through 8/8 (0.6347) downwards ad exited the overbought area. The RSI is decreasing step by step to 30. A test of 7/8 (0.6225) is expected, followed by a breakaway and falling to the support level of 6/8 (0.6103). The scenario can be cancelled y rising over the resistance level of 8/8 (0.6347). This might entail growth of the pair to +1/8 (0.6469).

On M15, the lower line of VoltyChannel is broken away, which increases the probability of further price falling.

Source: Roboforex

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