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we are waiting for growth, but the uncertainty in pairs has grown


AUDUSD

Scenario implementation: performed by

The Australian dollar has risen, but has not yet reached the target zone. The scenario has not yet been implemented, but the prerequisites for its execution remain. Since the moment of the last review, the pair first decreased slightly, however, slightly falling short of the signal level at 0.7677, after which it grew slightly. However, it is currently trading halfway to the target area.

So far, the assumptions about the probable start of growth are being confirmed, the pair is showing a desire to grow. But a confident impulse movement is not yet visible, which suggests that we are facing a local upward correction. Nevertheless, the likelihood of growing a little more remains.

Forecast: continuation of the upward movement
AUDUSD / NZDUSD: we are waiting for growth, but the uncertainty in the pairs has grown

Now, confirmation of intentions to resume growth could be consolidation in the current zone with a possible retest of the level of 0.7734, where the main support is expected. In the event of a subsequent rebound from it, there is a chance for the development of an impulse movement with the achievement of the target area between 0.7894 and 0.7934.

Cancellation of the scenario will take place in case of further decline and consolidation below the reversal level at 0.7677.

NZDUSD

Scenario implementation: performed by

The growth rate in the New Zealand dollar has significantly decreased, and the pair essentially went sideways with a slight upward bias. Since the last review, the pair managed to drop twice to the support zone at 0.7177, from where it fought back each time, trying to start an upward movement. However, momentum is not particularly visible, so the target area has not been reached, the scenario has not yet been realized.
AUDUSD / NZDUSD: we expect growth, but the uncertainty in the pairs has grown

The previous scenario for an upward movement has not yet been canceled, in any case, the signal zone is now confirmed. The pair is likely to have entrenched itself above the support and has every chance of resuming growth. Therefore, growth expectations remain relevant.

Forecast: continuation of the upward movement
AUDUSD / NZDUSD: we are waiting for growth, but the uncertainty in the pairs has grown

Confirmation of the intention to continue the upward movement will be the ability of the price to gain a foothold in the current area with a probable retest of the support level expected at 0.7177. In the event of a subsequent rebound from this zone with the formation of a lead-in impulse, the pair may aim at the area between 0.7354 and 0.7390.

Cancellation of the current scenario will take place if the decline continues and consolidates below the reversal level at 0.7130.

03/18/2021

Arman Beisembayev, Tickmill expert

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