Control zones for NZDUSD on 08/26/20

The downward movement remains a priority, so today's test of the WCZ 1/2 0.6568-0.6561 provided an opportunity to enter the sale to those who did not do so on Monday. The first goal of the downward movement is the previous week's low, the test of which will determine the further priority.

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The accumulation zone has been formed for the last three days. There is an increased number of limit orders for sale at the upper border of this zone.

To cancel the downward movement, you will need to close today's trading above the WCZ 1/2. This will indicate the need to eliminate sales and open a long position after a corrective pattern forms tomorrow.

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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