Minute operational scale (H4)
The end of this week and the beginning of the next - an overview of options for the development of the movement for AUD/USD & USD/CAD & NZD/USD (H4) on August 14, 2020.
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Australian dollar vs US dollar
The development of the movement of the Australian dollar AUD/USD from August 14, 2020 will continue to determine the development and direction of a breakout of the channel borders 1/2 Median Line (0.7220 - 0.7195 - 0.7170) of the Minuetteoperational scale fork - see the animated chart for details.
In case of a breakdown of the lower border of the 1/2 Median Line Minuette - support level of 0.7170, the downward movement of AUD/USD will be directed to the boundaries of the equilibrium zone (0.7140 - 0.7105 - 0.7070) of the Minuette operational scale fork.
If the resistance level of 0.7220 breaks at the upper border of the channel 1/2 Median Line Minuette, it will be possible to update the maximum 0.7244 and the Australian dollar will reach the initial SSL line (0.7265) of the Minuette operational scale fork.
The AUD/USD movement options from August 14, 2020 are 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 from August 14, 2020 will occur depending on the development and direction of the breakdown of the range:
- resistance level of 1.3245 - the lower border of the channel 1/2 Median Line Minuette;
- support level of 1.3195 - the upper border of the ISL38.2 balance zone of the Minuette operational scale forks.
In the breakdown of the resistance level of 1.3245, the movement of USD/CAD will begin to flow in the channel borders 1/2 Median Line (1.3245 - 1.3265 - 1.3280) of the Minuette operational scale fork with the prospect of reaching the zone boundary equilibrium (1.3295 - 1.3375 - 1.3455) of the Minute operational scale fork.
In case of breakdown of ISL38.2 Minuette - support level of 1.3195 - the development of the Canadian dollar movement will continue in the equilibrium zone (1.3195 - 1.3165 - 1.3135) of the Minuette operational scale fork with the prospect of reaching the FSL Minuette final line (1.3035) and the SSL initial line (1.3025) of the Minute operational scale fork.
Options for USD/CAD movement from August 14, 2020 are shown on the animated chart.
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New Zealand dollar vs US dollar
The movement of the New Zealand dollar NZD/USD from August 14, 2020 will also develop depending on the development and direction of the range:
- support level of 0.6580 - the lower border of the channel 1/2 Median Line Minuette;
- support level of 0.6580 - the initial SSL line of the Minuette operational scale fork.
The joint breakdown of the initial SSL line of the Minuette operational scale fork - support level of 0.6560 - and ISL38.2 Minute (0.6550) will confirm that further development of the NZD/USD movement will proceed within the boundaries of the operational scale fork equilibrium zones - Minute (0.6550 - 0.6500 - 0.6455) and Minuette (0.6455 - 0.6420 - 0.6385).
The breakdown of the resistance level of 0.6580 will return the development of the movement of the New Zealand dollar to the boundaries of the 1/2 Median Line channels of the operational scales - Minuette (0.6580 - 0.6595 - 0.6610) and Minute (0.6605 - 0.6630 - 0.6660) with the possibility of updating the local maximum 0.6688 and the initial SSL line (0.6695) of Minute operational scale fork.
The markup of NZD/USD movement options from August 14, 2020 is shown on an 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 it is not a guide to action (placing "sell" or "buy" orders).
