Control zones for NZDUSD on 04/06/20

The pair settled below the weekly CZ of 0.59170.5902 on Friday. This makes it possible to hold sales that were opened earlier and look for new opportunities to open a short position. Favorable prices for selling are within the range of the WCZ 1/2 0.5922-0.5915. The first target of the decline will be the 0.5777 level. The weekly control zone of 0.5752-0.5737 is located just below this mark.

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Work in the downward direction can become the main one for the entire current week.This will allow you to hold part of the position in order to reach the March low in the medium term.

The alternative growth model has a low probability and will develop only if an absorption pattern forms below the daily level. Monday's close should be above Friday's high. This will allow you to consider the bullish direction of trading and refuse to sell.

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

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes 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