By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
H4 shows that the quotes are below 200-day Moving Average. This is a sign of a downtrend. The resistance line was broken off by the RSI. It is possible to expect a downward breakaway of 2/8 (0.6713), followed by a fall to the support level 1/8 (0.65522). This scenario can be reversed by rising above the resistance level (3/8) which could lead to growth to 4/8 (0.6835).
The price will fall further if there is a breakaway from the VoltyChannel lower boundary on M15.
NZDUSD, “New Zealand Dollar vs US Dollar”
The H4 quotes are below the 200-day Moving Average. This indicates a downtrend. The RSI is close to the oversold zone. Therefore, expect a test of 0.63103, followed by bounce off and growth to the resistance level of 0.62225. A downward breakaway of 0.68103 can cancel this scenario. In this scenario, the pair might continue to fall and reach the support level -1/8 (0.63432).
After the price tests 0/8 (0.63103 on H4), M15 will show a breakaway at the upper boundary of VoltyChannel. This signal will confirm the growth.
Article by RoboForex.com
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