Control zones for NZD/USD on May 6, 2020

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Today’s movement of the pair must be considered in the framework of the flat formed by the last two days. If the pair cannot break through the weekly control zone 1/2 0.6087-0.6080, then the decline will continue, and the next goal of the decline will be the weekly minimum.

Working in the downward direction remains a priority, and goals allow you to enter positions with a favorable risk-to-profit ratio.

An alternative growth pattern will be developed if today’s close of trading occurs above the Weekly Control Zone 1/2. This will open the way for the pair’s growth in the second half of the week. The goal of the increase will be the April maximum and the level of 0.6196.

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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.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Control zones for NZD/USD on 05/06/20

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