empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

24.08.202013:05 Forex Analysis & Reviews: Comprehensive analysis of movement options for commodity currencies AUD/USD & USD/CAD & NZD/USD (Daily) on August 25, 2020

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Minor operational scale (Daily)

Do we expect a correction after updating the highs? Options for the development of the movement of AUD/USD & USD/CAD & NZD/USD (Daily) on August 25, 2020.

____________________

Australian dollar vs US dollar

From August 24, 2020, the development of the movement of the Australian dollar AUD/USD will be determined by the development and direction of the breakdown of the range:

  • resistance level of 0.7230 - the warning line UWL61.8 of the Minor operational scale forks;
  • support level of 0.7180 - the upper border of the channel 1/2 Median Line of the Minute operational scale forks.

A breakdown of the support level of 0.7230 will determine the development of the AUD/USD movement in the 1/2 Median Line Minute channel (0.7180 - 0.7145 - 0.7110), and if there is a consecutive breakdown of the lower boundary (0.7110) of this channel and the UTL control line (0.7080) of the Minor operational scale forks, then it will become possible for the price of the instrument to reach the boundaries of the equilibrium zone (0.7055 - 0.6985 - 0.6915) of the Minute operational scale forks, with the prospect of reaching the final line FSL Minute (0.6695).

In case of breakdown of the warning line UWL61.8 of the Minor operational scale forks - resistance level of 0.7230 - the resumption of the upward movement of the Australian dollar to the targets will become relevant:

  • initial line SSL (0.7270) of the Minute operational scale forks;
  • control line UTL Minute (0.7305);
  • with the prospect of reaching the warning line UWL100.0 Minor (0.7555).

The AUD/USD movement options from August 25, 2020 are shown on the animated chart.

Exchange Rates 24.08.2020 analysis

____________________

US dollar vs Canadian dollar

Working out and direction of the range breakdown:

  • resistance level of 1.3210 - reaction line RL23.6 of the Minute operational scale forks;
  • support level of 1.3145 - initial line of SSL of the Minute operational scale forks.
  • and it will determine the development of the movement of the Canadian dollar USD/CAD from August 25, 2020.

Breakdown of the reaction line RL23.6 Minute - resistance level of 1.3210 - a variant of the upward movement of USD/CAD to the borders of the channel 1/2 Median Line (1.3285 - 1.3340 - 1.3395) and equilibrium zones (1.3435 - 1.3520 - 1.3615) of the Minute operational scale forks.

In the case of serial breakout of the support level of 1.3145 on the starting line SSL of the Minute operational scale forks and control line LTL Minute (1.3115), the downward movement of the Australian dollar can continue to the targets:

  • final line FSL (1.3040) of the Minor operational scale forks;
  • local minimum 1.2950;
  • warning line LWL38.2 Minor (1.2720).

Options for USD/CAD movement from August 25, 2020 are shown on the animated chart.

Exchange Rates 24.08.2020 analysis

____________________

New Zealand dollar vs US dollar

The further development of the movement of the New Zealand dollar NZD/USD from August 25, 2020 will be due to the development and direction of the breakdown of the boundaries of the equilibrium zone (0.6540 - 0.6475 - 0.6405) of the Minute operational scale forks - we look at the animated chart for details of the movement marking within this zone.

In case of a breakdown of the lower border of ISL61.8 equilibrium zone of the Minute operational scale forks - support level of 0.6405 - the downward movement of NZD/USD can be continued to the final line of FSL Minute (0.6185) and to the upper border of ISL61.8 (0.6115) equilibrium zone of the Minor operational scale fork.

If the New Zealand dollar returns above the upper boundary of ISL38.2 of the equilibrium zone of the Minute operational scale forks - resistance level 0.6540 - with a subsequent breakdown of the final FSL line (0.6590) of the Minor operational scale forks, the upward movement of NZD/USD can be continued to the maximum (0.6713 - 0.6753 ) and warning line UWL38.2 Minor (0.6819).

The markup of the NZD/USD movement options from August 25, 2020 is shown on the animated chart.

Exchange Rates 24.08.2020 analysis

____________________

The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers and is not a guide to action (placing "sell" or "buy" orders).

Ratu Taslim
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off