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Murrey Math Lines 11.07.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes on H4 have broken the 200-day Moving Average and are now above it, indicating the possible development of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 6/8 (0.6713) is expected, followed by a breakout and a price rise to the resistance at 7/8 (0.6774). The scenario can be cancelled by a downward breakout of 5/8 (0.6652). In this case, the pair could drop to the support level of 4/8 (0.6591).

Murrey Math Lines 11.07.2023 AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper line of the VoltyChannel is broken, which increases the probability of a further price increase.

Murrey Math Lines 11.07.2023 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”

NZDUSD quotes on H4 are above the 200-day Moving Average, revealing the prevailing uptrend. The RSI has rebounded from the support line. In these circumstances, the price is expected to rise above 6/8 (0.6225) and advance to the resistance at 7/8 (0.6286). The scenario can be cancelled by a downward breakout of 5/8 (0.6164), which might lead to a trend reversal and a drop to the support at 4/8 (0.6103).

Murrey Math Lines 11.07.2023 NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper line of the VoltyChannel is broken, which indicates the prevalence of an uptrend and a high probability of further price growth.

Murrey Math Lines 11.07.2023 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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