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Last week, the pair tested the WCZ 1/2 0.6940-0.6933. This allowed to consider sales in the direction of the medium-term downward momentum. Today, you can observe the breakdown and attempt to consolidate above this zone. If this happens, the strengthening of the Australian dollar will be the main one for trading of the whole week.
Purchases from current levels are not profitable, however, any decline after the close of Asian trading above the WCZ 1/2 will provide opportunities to enter a long position.
An alternative model will be developed if the closing of today's trading will occur below the level of 0.6940. This will allow to work again within the framework of the accumulated accumulation zone. The first goal will be at least last week. After the close of Asian trading above the level of 0.6940, the probability of decline will decrease to 30%.
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.
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