Minuette operational scale (daily timeframe)
We continue to explore the confrontation between "commodity" currencies and the US dollar - review of options for the development of the movement for AUD/USD, USD/CAD, and NZD/USD on April 14, 2020.
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Australian dollar vs US dollar
Range development and breakdown direction:
- resistance level of 0.6395 - UTL control line of the Minuette operational scale forks;
- support level of 0.6360 - initial line of SSL of the Minuette operational scale forks
And it will determine the development of the movement of the Australian dollar (AUD/USD) from April 14, 2020.
Breakdown of the UTL control line of the Minuette operational scale forks - resistance level of 0.6395 - option to continue the development of the upward movement of the Australian dollar to the warning lines - UWL100.0 Minute (0.6460) and UWL161.8 Minute (0.6720) - the Minuette operational scale forks.
But the breakdown of the initial SSL line of the Minuette operational scale forks - the support level of 0.6390 - will determine the possibility of a downward movement of AUD/USD to the borders of the 1/2 Median Line channel (0.6290-0.6255-0.6220) and equilibrium zones (0.6195-0.6145 0.6090) of the Minuette operational scale forks.
The marking of the AUD/USD movement options from April 14, 2020 is shown on the animated chart.
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US dollar vs Canadian dollar
From April 14, 2020, the development of the movement of the Canadian dollar (USD/CAD) will be due to the development and direction of the breakdown of the range:
- resistance level of 1.4010 - on the reaction line RL23.6 of the Minuette operational scale forks;
- support level of 1.3920 - on the control line LTL of the Minuette operational scale forks.
The breakdown of the support level of 1.3920 on the control line LTL forks of the Minuette operational scale forks will make it relevant to continue the development of the downward movement of USD/CAD to the final line FSL (1.3595) of the Minuette operational scale forks.
When the reaction line RL23.6 of the Minuette operational scale forks is broken down - resistance level 1.4010 - there can be a development of the upward movement of the Canadian dollar to the borders of the equilibrium zones of the Minuette operational scale forks - Minute (1.4055-1.4205-1.4355) and Minuette (1.4235-1.4325-1.4420).
The markup of the USD/CAD movement options from April 14, 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) from April 14, 2020 will depend on the development and direction of the breakdown of the range:
- resistance level of 0.6080 - the initial line of SSL of the Minuette operational scale forks;
- support level of 0.6015 - upper limit of the channel 1/2 Median Line of the Minuette operational scale forks.
Sequential breakdown of resistance levels:
- 0.6080 - initial SSL Minuette line
- 0.6100 - local maximum
- 0.6110 - UTL Minuette control line
will determine the continuation of the upward movement of the New Zealand dollar to the warning lines - UWL38.2 Minuette (0.6140) - UWL61.8 Minuette (0.6175) - UWL100.0 Minuette (0.6235) - Minuette operational scale forks.
If the support level of 0.6015 breaks, the development of the NZD/USD movement will occur within the boundaries of the 1/2 Median Line channel (0.6015-0.5985-0.5960) and equilibrium zones (0.5960-0.5915-0.5875) of the Minuette operational scale forks.
From April 14, 2020, we look at the layout of the NZD/USD movement options 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).
