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Murrey Math Lines 28.05.2024 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has breached the resistance line. In this situation, the price is expected to test the 6/8 (0.6703) level, break above it, and rise to the resistance at 7/8 (0.6774). The scenario could be cancelled by a breakout of the 5/8 (0.6652) level. In this case, the quotes might decline to the support at 4/8 (0.6591).

Murrey Math Lines 28.05.2024 AUDUSD
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 rise.

Murrey Math Lines 28.05.2024 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 above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI is approaching the overbought area. As a result, in this situation, the price is expected to rebound from the 5/8 (0.6164) level and decline to the support at 4/8 (0.6103). The scenario could be cancelled by surpassing the 5/8 (0.6164) level. In this case, the quotes might rise to the resistance at 6/8 (0.6225).

Murrey Math Lines 28.05.2024 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the price decline might be additionally supported by a breakout of the VoltyChannel lower line.

Murrey Math Lines 28.05.2024 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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