04.05.202016:31 Forex Analysis & Reviews: Comprehensive analysis of movement options for AUD/USD & USD/CAD & NZD/USD (Daily) in May 2020

Minor operational scale (Daily)

May - commodity currencies AUD/USD & USD/CAD & NZD/USD - options for the development of the movement from May 5, 2020.

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Australian dollar vs US dollar

In May 2020, the development of the movement of the Australian dollar AUD/USD will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (0.6460-0.6340-0.6215) of the Minor operational scale fork - the markup of movement inside this channel is presented on the animated graph.

A breakdown of the lower border of the 1/2 medium Line Minor channel - the support level of 0.6215 - will determine the further movement of the Australian dollar already in the equilibrium zone (0.6215-0.6040-0.5880) of the Minor operational scale fork.

If the upper limit of the 1/2 medium Line Minor channel is broken - the resistance level of 0.6460 - it will be possible to resume the upward movement of AUD/USD to the targets:

• local maximum of 0.6571;
• initial SSL line (0.6710) of the Minor operational scale fork;
• UTL Minor control line (0.6830).

With the prospect of reaching the warning line UWL38. 2 Minor 0.6955.

The markup of the AUD/USD movement options in May 2020 is shown on the animated chart.

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US dollar vs Canadian dollar

The development of the movement of the Canadian dollar USD/CAD in May 2020 will be determined by the development and direction of the breakdown of the range:

• resistance level of 1.4180 on the final Shiff Line Minor;
• support level of 1.4050 at the upper border of the ISL61.8 balance zone of the Minor operational scale fork.

A breakdown of the resistance level of 1.4180 on the final Shiff line Minor will determine the development of the USD/CAD movement to the borders of the 1/2 Median Line channel (1.4320-1.4470-1.4610) and equilibrium zones (1.4470-1.4667-1.4870) of the Minuette operational scale fork.

If the support level of 1.4050 on ISL61.8 Minor - option of the movement of the Canadian dollar in the zone of equilibrium (1.4050-1.3900-1.3720) and channel 1/2 Median Line (1.3770-1.3640-1.3510) of the Minor operational scale fork.

The markup of the USD/CAD movement options in May 2020 is shown on the animated chart.

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New Zealand dollar vs US dollar

The development of the movement of the New Zealand dollar NZD/USD in May 2020 will also depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (0.6110-0.5970-0.5840) of the Minor operational scale fork - the movement markings inside this zone are shown on the animated chart.

Breakdown of the lower border of ISL61.8 equilibrium zone of the Minor operational scale fork - support level of 0.5840 - an option for the New Zealand dollar to reach the borders of the 1/2 Median Line channel (0.5800-0.5690-0.5557) of the Minuette operational scale fork.

The breakdown of the top border ISL38.2 zone equilibrium of the Minor operational scale fork - resistance 0.6110 - the movement of NZD/USD can be continued to the boundaries of the channel 1/2 Median Line Minor (0.6160-0.6250-0.6340) of the achievement of the initial line SSL (0.6520) of the Minor operational scale fork.

We look at the markup of the NZD/USD movement options in May 2020 on the animated chart.

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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).