Murrey Math Lines 21.07.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is trading above 5/8. In this case, the pair is expected to continue growing to reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.
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, after rebounding from 8/8 again, NZDUSD is expected to resume trading downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.