Murrey Math Lines 24.01.2023 (AUDUSD, NZDUSD)

murrey-math-lines-2401.2023-(audusd,-nzdusd)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are nearing the overbought area, while the RSI is nearing the resistance line. A test of 8/8 (0.7080) should be expected, followed by a bounce off it and falling to the support level of 6/8 (0.6958). The scenario can be cancelled by rising over the resistance level of 8/8 (0.7080). In this case, growth of the pair will continue, and the quotes might rise to +1/8 (0.7141).

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

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotes are also above the 200-day Moving Average, indicating prevalence of an uptrend. The RSI has bounce off the support level. The quotes are expected to rise above 7/8 (0.6530) and continue up to 8/8 (0.6591). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (0.6469). In this case, the pair may drop to 5/8 (0.6408).

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

Source: Roboforex

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