The pair is testing the weekly CZ 0.6761-0.6748 on the second day. Consolidation below this zone does not occur, therefore, it becomes possible to search for favorable prices for selling. WCZ 1/4 0.6777-0.6773 was tested yesterday, which made it possible to open a short position. The medium-term goal of the current week is the middle course zone with a lower boundary at the level of 0.6695.
Absorption of the upward movement of early September becomes a matter of time. The probability of falling to the low of the month is above 70%. This makes it possible to keep part of the sales opened earlier.
An alternative model will be developed if the pair can gain a foothold above the WCZ 1/4. This will open the way for the formation of a medium-term zone of accumulation, which will be a correction to the last weakening of the Australian dollar. The WCZ 1/2 0.6814-0.6807 will be the determining resistance.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
