WIKIFX REPORT: Murrey Math Lines 07.06.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

We can easily observe in the H4 chart, AUDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and resume falling towards 1/8.

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

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, NZDUSD is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to continue moving downwards to reach the closest support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may reverse and grow towards 7/8.

As we can observe in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline to reach 4/8 from the H4 chart.