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Murrey Math Lines 24.01.2023 (AUDUSD, NZDUSD)

24.01.2023

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).

AUDUSDH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

AUDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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).

NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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