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16.06.202002:48 Forex Analysis & Reviews: Comprehensive analysis for commodity currencies AUD/USD & USD/CAD & NZD/USD (Weekly timeframe) for the 2nd half of 2020

Intermediate operational scale (Weekly)

What is expected in the weekly timeframe in the second half of 2020 from commodity instruments AUD/USD & USD/CAD & NZD/USD?____________________

Australian dollar vs US dollar

The movement of the Australian dollar AUD/USD in the second half of 2020 will continue in the equilibrium zone (0.6510 - 0.6810 - 0.7130) of the Intermediate operational scale fork ( Weekly), taking into account the direction of the range breakdown:

• resistance level of 0.6890 - the upper limit of ISL61.8 balance zone of the Minor operational scale fork (Daily)
• support level 0.6810 - Median Line for the Intermediate operational scale forks (Weekly)

The downward movement of the Australian dollar will develop as a result of the breakdown of the median Line Intermediate (Weekly) - support level of 0.6810 - and will be directed to the goals:

Median Line (0.6620) fork operational scale Minor (Daily);

• lower bound of ISL38.2 (0.6510) equilibrium zone of the Intermediate operational scale fork ;
• lower bound of ISL38.2 (0.6340) equilibrium zone of the Minor operational scale fork;
• with the prospect of reaching the channel boundaries 1/2 Median Line Minor (0.6290 - 0.6100 - 0.5900).

The upward movement of AUD/USD will be true in the case of breakdown of the top border ISL61.8 equilibrium zone of the Minor operational scale forks (Daily) - the resistance level of 0.6890 - and can be continued to the objectives:

• upper bound of ISL61.8 (0.7130) equilibrium zone of the Intermediate operational scale fork (Weekly);
• ultimate Shiff Line Intermediate (0.7350);
• FSL Intermediate end line (0.7750).

The AUD/USD movement options are shown on the animated chart.

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US dollar vs Canadian dollar

In the second half of 2020, the movement of the Canadian dollar (USD/CAD) will be determined by the boundaries of the 1/2 Median Line channel (1.4160 - 1.3610 - 1.3140) of the Intermediate (Weekly) operational scale fork and will depend on the direction of the range breakdown:

resistance level 1.3710 - initial line of SSL of the operational scale forks;

support level 1.3610 - 1/2 Median Line of the Intermediate (Weekly) operational scale fork.

The upward movement of the USD/CAD will be possible in case of breaking the resistance level of 1.3710 on the starting line SSL of the Intermediate (Weekly) operational scale fork and will be directed to the Median Line (1.3860) equilibrium zone of the Minor (Daily) operational scale fork and the channel borders 1/2 Median Line Minor (1.3960 - 1.4160 - 1.4360).

The downward movement of the Canadian dollar will be true in the case of breakdown of 1/2 Median Line of the Intermediate (Weekly) operational scale fork - support level 1.3610 - and may continue to objectives:

• line reaction RL100.0 Intermediate (1.3460);
• final Shiff Line (1.3360) of the minor operating scale fork (Daily);
• lower border of the channel 1/2 Median Line Intermediate (1.3140);
• with the prospect of reaching the final FSL Minor line (1.3030) followed by updating the local minimum 1.2950.

We look at the USD/CAD movement options 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 the second half of 2020 will depend on the mining zone of equilibrium (0.6400 - 0.6700 - 0.6980) of the Intermediate (Weekly) operational scale fork and will be determined by the direction of the breakout of the range:

resistance level 0.6470 - upper border of the channel 1/2 Median Line of the Intermediate (Weekly) operational scale fork;

support level 0.6400 - the lower boundary ISL38.2 equilibrium zone of the Intermediate (Weekly) operational scale fork.

The downward movement of the NZD/USD can be continued in case of breaking the lower border ISL38.2 equilibrium zone of the Intermediate (Weekly) operational scale fork - support level of 0.6400 - and will be routed to the 1/2 Median Line Intermediate (0.6270) and the borders of the zone of equilibrium (0.6150 - 0.6000 - 0.5850) of the Minor (Daily) operational scale fork.

The upward movement in the NZ dollar may get its development after the breakdown of the upper border of the channel 1/2 Median Line Intermediate (Weekly) - resistance level 0.6470 - and will come within the zone of equilibrium (0.6400 - 0.6700 - 0.6980) of the Intermediate (Weekly) operational scale fork subject to testing of the final line FSL (0.6630) of the Minor (Daily) operational scale fork and local maximum 0.6753.

The markup of the NZD/USD movement options is shown 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).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ratu Taslim,
Analytical expert of InstaSpot
© 2007-2024

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