Murrey Math Lines 09.06.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading inside the “overbought area”. In this case, the pair is expected to break +1/8 and then continue falling to reach the support at 8/8. However, this scenario may be canceled if the price breaks +2/8 to the upside. After that, the lines in the chart will be redrawn to help us define the next upside targets
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is trading above 5/8. In this case, the price is expected to break 6/8 and then continue trading upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.