Murrey Math Lines 10.01.2023 (AUDUSD, NZDUSD)

murrey-math-lines-1001.2023-(audusd,-nzdusd)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are in the overbought area. The RSI has bounced off 70. In such circumstances, we should expect a downward breakaway of +1/8 (0.6897) and subsequent falling to the support level of 7/8 (0.6774). The scenario can be cancelled by rising over the resistance level of +2/8 (0.6958), which will entail reshuffling of the Murray lines, after which new goals will be set.

On M15, an additional signal confirming the decline will be a breakaway of the lower line of VoltyChannel.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI is testing the support level. As a result, the quotes are expected to rise over 5/8 (0.6408) and then grow to the resistance level of 6/8 (0.6469). The scenario can be cancelled by a downward breakaway of the support level of 4/8 (0.6347). In this case, the pair may drop to 3/8 (0.6286).

On M15, the upper line of VoltyChannel is broken. This indicates prevalence of an uptrend and a high probability of further price growth.

Source: Roboforex

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