FX.co ★ Control zones NZDUSD on 07/09/20

The upward movement continues from July 1. This indicates the strength of the New Zealand dollar. In these conditions, any reduction must be used to find favorable prices for purchasing the instrument. It is not profitable to buy from the current levels since the monthly high was updated today, which can cause major players to consolidate a large number of long positions and a natural pullback.

The goal of the upward movement is the WCZ 1/2 0.6629-0.6622. Reaching this mark will allow you to consolidate the next part of the profit.

Alternatively, the decline should be considered only if today's closing occurs below yesterday's low. Otherwise, any downward movement will be corrective and will allow you to re-enter the purchase.

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.