Murrey Math Lines 10.01.2023 (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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