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Murrey Math Lines 28.02.2023 (AUDUSD, NZDUSD)

28.02.2023

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has bounced off the resistance line. A downward breakaway of 2/8 (0.6713) should be expected, followed by falling to the support level of 1/8 (0.6652). The scenario can be cancelled by rising above the resistance level of 3/8 (0.6774), which might entail growth to 4/8 (0.6835).

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower border of VoltyChannel will be an extra signal of further falling of the price.

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 under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI is nearing the oversold area. As a result, a test of 0/8 (0.6103) should be expected, followed by a bounce off it and growth of the resistance level to 2/8 (0.6225). The scenario can be cancelled by a downward breakaway of 0/8 (0.6103). In this case, the pair may go on falling and reach the support level of -1/8 (0.6042).

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

On M15, after the price tests 0/8 (0.6103) on H4, a breakaway of the upper border of VoltyChannel will be an additional signal confirming the 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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