The movement of the last three days occurs within the zone of the average weekly move. The probability of closing trades below this zone is 30%, so we are seeing a stop in the decline. Now the pair is testing the first resistance zone of the WCZ 1/4 0.6883-0.6880. If the zone test leads to the formation of a sell pattern, then on Monday, it will be possible to open a short position in the direction of the continuation of the medium-term downward impulse.
Working within the local accumulation zone allows you to use the highs of the last two days to find the point of continued fall.
Deeper correction and growth to WCZ 1/2 0.6916-0.6910 will allow you to get favorable prices for selling. This model needs to be considered, since today sales from WCZ 1/4 are not profitable and a stronger growth of the Australian dollar may be required before continuing the bearish medium-term impulse.
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.
