Murrey Math Lines 19.05.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving above 5/8. In this case, the pair is expected to break 6/8 and then continue growing to reach the resistance at 7/8. However, this scenario may be canceled if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the support at 4/8.
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 trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is moving not far from 3/8. In this case, today the price is expected to rebound from 3/8 and then resume trading downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards the closest resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.