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Murrey Math Lines 05.09.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a downward breakout of 1/8 (0.6408) is expected, followed by a decline to the support level of 0/8 (0.6347). The scenario can be cancelled by the price rising above 2/8 (0.6469), in which case the the quotes might reach the resistance level of 3/8 (0.6530).

Murrey Math Lines 05.09.2023 AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower boundary of the VoltyChannel is broken, which indicates the prevalence of a downtrend and a high probability of a further price drop.

Murrey Math Lines 05.09.2023 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”

On the NZDUSD chart, the situation is similar. The quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend, and the RSI is testing the support line. In these circumstances, the price is expected to drop to 0/8 (0.5859). The scenario can be cancelled by the quotes rising above the resistance at 2/8 (0.5981). In this case, the pair could grow to 3/8 (0.6042).

Murrey Math Lines 05.09.2023 NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower boundary of the VoltyChannel is broken, increasing the probability of a further price decline.

Murrey Math Lines 05.09.2023 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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