Control zones for NZD/USD on 05/04/20

Testing the weekly control zone 0.6022-0.6007 today allows you to consider two options. The main ones are the pair's purchases. The growth target will be the maximum of April which was formed last week. To enter the purchase, taking an absorption pattern at the session or daily levels is necessary. It is desirable that the closing of today's trading occurred above the opening.

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The upward pattern may be a continuation of medium-term growth, which was started in mid-March. The main goal of the upward movement is the level of 0.6196, which is the lower boundary of the monthly control zone of March.

An alternative decline pattern will be developed if today's trading closes below the weekly control zone. This will allow us to consider medium-term sales within the current week. The pattern of "absorption" at the daily level has already formed, so there is a high probability that the decline will continue.

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

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

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

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