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Murrey Math Lines 07.12.2021 AUDUSD, NZDUSD

07.12.2021AUDUSD, Australian Dollar vs US DollarIn the H4 chart, AUDUSD is trading inside the oversold area. In this case, the price is expected to test 08, break it, and then grow to reach the resistance at 28. However, this scenario may no longer be valid if the price breaks the support at 18 to the downside. After that, the instrument may continue falling towards 28.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 DollarAs we can see in the H4 chart, NZDUSD is also trading within the oversold area. In this case, the price is expected to test 18, break it, and then continue growing to reach the resistance at 18. Since the current trend is descending, this upward movement should be considered as a correction. However, this scenario may no longer be valid if the price breaks the support at 28 to the downside. After that, the lines in the chart will be redrawn, thus helping us to define new downside targets.In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.Back to listAttention!Forecasts presented in this section only reflect the authors private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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