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Murrey Math Lines 14.05.2024 (AUDUSD, NZDUSD)

14.05.2024

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes have broken above the 200-day Moving Average on D1, indicating the potential development of an uptrend. The RSI is testing the support line. In this situation, the price is expected to rebound from the 4/8 (0.6591) level and rise to the resistance at 6/8 (0.6713). The scenario could be cancelled by a breakout of the 3/8 (0.6530) level. In this case, the quotes might retrace to the support at 2/8 (0.6469).

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

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

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 are below the 200-day Moving Average on D1, indicating a prevailing downtrend. The RSI is testing the resistance line. In this situation, the price is expected to break below the 2/8 (0.5981) level and decline to the support at 0/8 (0.5859). The scenario could be cancelled if the price surpasses the 3/8 (0.6042) level. In this case, the quotes might reach the resistance at 5/8 (0.6164).

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

On M15, a breakout of the lower line of the VoltyChannel will increase the probability of a price decline.

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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