FX.co ★ Control zones for AUDUSD on 03/27/2020

Today, the pair is testing the weekly CZ 0.6114-0.6103. If the test of this zone causes a false breakout or absorption pattern to form, then sales will again come to the fore. The structure of the current movement does not provide a reason to consider this model as the main one, since the Reserve Bank of Australia has been supporting the growth of the national currency for the fifth day.

The downward movement at this stage will be considered as corrective, therefore, sales will have limited potential.

The main model of continuing growth will develop if today's trading closes above the weekly CZ. This will open the way to continued growth to the next target mark, which could be the level of 0.6445.

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.