FX.co ★ Control zones for NZD/USD on 02/05/20

Yesterday's growth was the main model, as the pair was trading outside the average course. The level of 0.6502 remains the main target and is within the daily range. Meanwhile, the defining resistance zone of Weekly Control Zone 1/2 0.6517-0.6511 is located just above the level. Now, reaching this zone will determine the future priority.

Yesterday's purchase of the instrument should be partially fixed after touching the level of 0.6502, while the rest can be transferred to breakeven.

The continuation of the fall model will be developed if the Weekly Control Zone 1/2 test leads to the formation of the "absorption" or "false breakdown" pattern. This will pave the way for further lowering and updating the monthly minimum. Last month's downward movement remains a medium-term impulse.

Daily CZ - daily control zone. The 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. The zone that reflects the average volatility over the past year.