FX.co ★ Control zones for NZD/USD on 08/04/20

Yesterday's test of the weekly control zone caused an increase in sales. Now the pair is testing the weekly control zone 1/2 0.5937-0.5930 which serves as the main area of support. If the price holds above this zone, then the upward movement will resume. The probability of updating the weekly high is still above 75%.

The uptrend may persist until the end of this week as the Bank of New Zealand does not impede the growth of the national currency.

An alternative scenario will develop if today the pair closes below the weekly control zone 1/2. This will indicate a change in balance, and later this week the pair may decline to a weekly control zone at 0.5862-0.5847.

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

Weekly CZ - weekly control zone. An area formed by the important marks of the futures market that change several times a year.

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