Control zones for AUDUSD on 07/22/19

Work in the framework of the upward impulse involves finding favorable prices for the purchase. The main support is WCZ 1/2 0.7016-0.7009. As long as the pair is trading above the specified zone, the bullish movement will remain an impulse. The WCZ 1/2 test will give the opportunity to buy a pair at competitive prices in case of demand.

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It is important to note that the WCZ 1/2 test will coincide with a significant level of demand, which was formed last week. This adds value to the specified marks.

The reversal model will be developed if the closure of today's US session is below 0.7009. This will allow you to look for sales already in tomorrow's Asian session. The upward medium-term cycle will be completed.

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Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year

The material has been provided by InstaForex Company - www.instaforex.com