Murrey Math Lines 17.01.2023 (AUDUSD, NZDUSD)

murrey-math-lines-1701.2023-(audusd,-nzdusd)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which implies prevalence of an uptrend. The RSI is testing the support level. A test of 7/8 (0.7019) should be expected, followed by growth to the resistance level of 8/8 (0.7080). The scenario can be cancelled by a downward breakaway of 5/8 (0.6897). In this case, the pair may fall to 3/8 (0.6774).

On M15, an additional signal confirming growth of the price will be a breakaway of the upper border of VoltyChannel.

NZDUSD, “New Zealand Dollar vs US Dollar”

The quotes are also above the 200-day Moving Average, indicating an uptrend, and the RSI is testing the support level. As a result, the pair is expected to rise over 5/8 (0.6408) and after that reach the resistance level of 7/8 (0.6530). The scenario can be cancelled by a downward breakaway of 4/8 (0.6347). In this case, the pair may drop to 3/8 (0.6286).

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of further growth of the price.

Source: Roboforex

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