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26.08.202006:24 Forex Analysis & Reviews: Control zones for AUDUSD on 08/26/20

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Last week's downward momentum is still the basis for choosing the direction of trade. The probability of continued bearish movement is estimated at 75%. The main target of the decline is the weekly CZ 0.7097-0.7079. Upon reaching this zone, it is necessary to close most of the sales.

Exchange Rates 26.08.2020 analysis

The most favorable prices for selling the instrument can be obtained if the price reaches the WCZ 1/2 0.7236-0.7227.

To form an alternative model, it will be necessary to close today's trading above WCZ 1/2. This will allow you to consider purchases in the second half of the week. This pattern is a form of support, since the bearish impulse has not yet reached 100%.

Exchange Rates 26.08.2020 analysis

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.

Samanta Kruder
Analytical expert of InstaForex
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