Control zones for AUDUSD on 08/13/20

The pair's growth from yesterday continued to form an accumulation zone in the medium term. This makes it possible to search for favorable prices for selling the instrument. The WCZ 1/2 0.7209-0.7200 is the main resistance. The probability of renewing the weekly low is 75% while the pair is trading below the specified zone.

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Working towards weakening the Australian dollar may become the main one in the second half of August.

Breaking the descending pattern will require closing today's trading above WCZ 1/2. This will indicate a new bullish pattern being formed. The growth target will be the weekly CZ 0.7308-0.7290. If this model gets implemented, then purchases will come to the fore at tomorrow's Asian session.

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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