Control zones of AUD/USD pair 10/18/18
Yesterday there was a depreciation, but the reversal model has not yet begun. For this reason, testing the level of 0.7091 should be considered as an opportunity to search for a buying pattern.
Yesterday’s movement allowed to form a local zone of accumulation. The a control zone with the lower limit at 0.7091 remains support, which obliges it to use its test to search for favorable purchase prices. The main goal of growth remains the weekly control zone as long as the pair is trading above the level of 0.7091.
If there is already a long position in the market, then it is best to transfer it to break even, since the a control zone breakdown in today’s American session will indicate a change in priority.
For violation of the ascending impulse, a breakdown and fixation below the a control zone will be required, the lower limit of which is at the level of 0.7091. If this happens, then tomorrow at the Asian session, sales of the instrument will come to the fore. Currently, the probability of this model being implemented is 30%, however, it must be taken into account that on other pairs traded to the dollar, reversal patterns have already occurred.