FX.co ★ Control zones for AUDUSD 03/24/2020

The upward movement on the pair has moved into the medium-term but still remains corrective in relation to the March fall. The next growth target is weekly CZ 0.6097-0.6079. The probability of achieving this goal is 70%.

If the pair goes beyond Friday's maximum and fixes higher, this will be the first signal for a possible break in the downward momentum.

An alternative model will develop if the closing of today's trading occurs below the opening. This will create conditions for the formation of a daily absorption pattern. The probability of a downward movement varies within 25%, which makes sales from current levels unprofitable.

Daily CZ - daily control zone. A zone formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. A zone that reflects the average volatility over the past year.