06.07.202017:25 Forex Analysis & Reviews: Comprehensive analysis of movement options for the commodity currencies AUD/USD, USD/CAD, and NZD/USD (H4) on July 7, 2020

Minute operational scale (H4)

The second week of July - continued growth of "commodity" currencies against the US dollar? Overview of options for the development of the movement for AUD/USD, USD/CAD, and NZD/USD (H4) on July 7, 2020.

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Australian dollar vs US dollar

From July 7, 2020, the development of the movement of the Australian dollar (AUD/USD) will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (0.6975 - 0.7005 - 0.7035) of the Minuette operational scale fork - we look at the animated chart for details of the movement inside this zone.

If the resistance level of 0.7035 on the top border ISL61.8 equilibrium zone of the Minuette operational scale fork will make the actual continuation of the upward movement of the Australian dollar to a local maximum 0.7065 and the ultimate line FSL Minuette (0.7120).

In case of breaking the lower border ISL38.2 equilibrium zone of the Minuette operational scale fork - support level of 0.6975, the AUD/USD movement can continue to the boundaries of the 1/2 Median Line Minuette channel (0.6960 - 0.6940 - 0.6920), as well as to the initial one - SSL (0.6950) and control - LTL (0.6860) lines of the Minuette operational scale fork.

The AUD/USD movement options from July 7, 2020 are shown on the animated chart.

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US dollar vs Canadian dollar

The development of the movement of the Canadian dollar (USD/CAD) from July 7, 2020 will be determined by working out and the direction of the breakdown of the boundaries of the equilibrium zone (1.3485 - 1.3515 - 1.3550) of the Minuette operational scale forks - the movement markings inside the indicated equilibrium zone are shown on the animated chart.

In the breakdown of the support level of 1.3485 on the lower border ISL38.2 zone equilibrium of the Minuette operational scale fork, the downward movement of the Canadian dollar may continue to the goals:

• lower bound of ISL38.2 (1.3465) equilibrium zone of the Minute operational scale fork;
• FSL end line (1.3380) of the Minuette operational scale fork;
• local minimum 1.3315.

In case of a breakdown of the top border ISL61.8 equilibrium zone of the Minuette operational scale fork - the resistance level of 1.3550 - can take place to be the development of the upward movement the USD/CAD to the boundaries of the channel 1/2 Median Line Minuette (1.3600 - 1.3625 - 1.3655) with the prospect of updating local maximum of 1.3715 and the line of control UTL Minuette (1.3740).

From July 7, 2020, we look at the USD/CAD movement options on the animated chart.

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New Zealand dollar vs US dollar

Further development of the movement of the New Zealand dollar (NZD/USD) from July 7, 2020 would depend on the practice and direction of a breakout of the range:

• resistance level of 0.6560 - the lower boundary ISL38.2 equilibrium zone of the Minuette operational scale fork;
• support level of 0.6535 - the final Shiff Line Minuette.

With the breakdown of ISL38.2 Minuette - resistance level of 0.6560 - the development of the movement of the New Zealand dollar will continue within the equilibrium zone (0.6560 - 0.6595 - 0.6625) of the Minuette operational scale forks and 1/2 channel of the Median Line (0.6582 - 0.6635 - 0.6690) of the Minute operational scale forks with the prospect of reaching the final line FSL Minuette (0.6725) and the warning line UWL38.2 Minute (0.6770).

In the event of a breakdown of the final Shiff Line of the Minuette operational scale fork - support level 0.6535 - the downward movement of NZD/USD can continue to the borders of the 1/2 Median Line Minuette channel (0.6480 - 0.6460 - 0.6445) and the equilibrium zone (0.6425 - 0.6360 - 0.6290) of the Minute operational scale.

The markup of the NZD/USD movement options from July 7, 2020 is shown on the animated chart.

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The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers and is not a guide to action (placing "sell" or "buy" orders).