AUDUSD quotes and the RSI on H4 are in their respective oversold areas. In this situation, a rebound from -1/8 (0.6317) could be expected, followed by a rise to the resistance at 1/8 (0.6378). The scenario can be cancelled by a rebound from -1/8 (0.6317). In this case, the quotes might continue falling, probably reaching the support level of -2/8(0.6286).
On M15, the upper boundary of the VoltyChannel is too far away from the current price, which means the growth of the quotes could only be indicated by a rebound from -1/8 (0.6317) on H4.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes have broken the 200-day Moving Average on H4, reaching below it, which reveals the chance for a downtrend to develop. The RSI is nearing the oversold area. As a result, a test of 1/8 (0.5889) is expected, followed by a rebound from it and a rise to the resistance at 3/8 (0.5950). The scenario can be cancelled by a downward breakout of 1/8 (0.5889), in which case the quotes might drop to the support at 0/8 (0.5859).
On M15, the upper boundary of the VoltyChannel is too far away from the current price, which means the growth of the quotes could only be indicated by a rebound from 1/8 (0.5889) on H4.
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.