On H4, the quotes have broken through the 200-day Moving Average and are now above it, which hints on possible development of an uptrend. However, the RSI is nearing the overbought area. As a result, we should expect a test of 4/8 (0.6347), a breakaway of it, and a decline to the support level of 3/8 (0.6225). The scenario can be cancelled by rising over the resistance level of 5/8 (0.6469). In this case, the pair might rise to 6/8 (0.6591).
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of price falling to 3/8 (0.6225) on H4.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are in the overbought area. The RSI have bounced off the resistance line. Currently, we should expect a downwards breakaway of the support level of 8/8 (0.5859) and subsequent falling to 7/8 (0.5737). The scenario can be cancelled by rising over the resistance level of 1/8 (0.5981). This might provoke growth to 2/8 (0.6103).
On M15, an additional signal confirming the decline of the pair will be a breakaway of the lower border of VoltyChannel.
