Murrey Math Lines 28.01.2020 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is moving inside the “oversold area”. In this case, the pair is expected to test -2/8, rebound from it, and then resume growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -1/8. After that, the instrument may continue growing to reach the resistance at 1/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is moving below 3/8. According to the main scenario, the pair is expected to break 2/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 upwards. After that, the instrument may continue growing to reach the resistance at 5/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.