22.10.201809:02 Forex Analysis & Reviews: Control zones AUDUSD 10/22/18

Over the past week, the pair has formed a medium-term accumulation zone within the main support of the NKZ 1/2. While the instrument is trading above the level of 0.7091, the upward movement remains a priority in the medium term.

At the end of last week, the pair twice tested the main zone of support for NKZ 1/2 and its lower limit of 0.7091. Both times this led to a strong increase in demand, which made it possible to form a medium-term accumulation zone. If today the pair continues to trade above the specified level, then the first goal of growth will be the high of last week. The work should be carried out within the framework of the flat, which imposes certain conditions when opening positions and bringing them to the middle term.

Do not forget that the retention of the part of purchases that were opened last week will only be relevant if it closes above the level of 0.7091 during the trading.

For violation of the current flat structure and cancellation of the medium-term upward movement, it will be necessary to fall below the level of 0.7091 and close today's trading there. This will allow us to look for favorable prices for selling the instrument by tomorrow at the Asian session. The purpose of the fall will be at least two weeks ago.