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Murrey Math Lines 14.11.2023 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"

AUDUSD quotes have rebounded from the support level of 0/8 (0.6347) on H4. The RSI is approaching the resistance line. In this situation, a test of 1/8 (0.6408) is expected, followed by a breakout of this level and a rise to the resistance at 2/8 (0.6469). The scenario can be cancelled by a downward breakout of the 0/8 (0.6347) level. In this case, the quotes could resume falling and reach the support at -1/8 (0.6286).

Murrey Math Lines 14.11.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the price growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.

Murrey Math Lines 14.11.2023 AUDUSD
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 and the RSI are approaching their respective oversold areas. In this situation, a test of 0/8 (0.5859) is expected, followed by a rise to the resistance at 2/8 (0.5981). The scenario can be cancelled by a downward breakout of the 0/8 (0.5859) level, which could lead to a further decline to -1/8 (0.5798)

Murrey Math Lines 14.11.2023 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a new breakout of the upper boundary of the VoltyChannel might increase the probability of a price rise.

Murrey Math Lines 14.11.2023 NZDUSD
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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