Authorities in Australia and New Zealand plan to open up borders for tourist exchanges. Both countries are proud of their low Coronavirus infection rates and COVID-19 mortality rate. And now Canberra and Wellington are exploring the possibility of creating a tourist corridor, which is already called Trans Tasmania. As Reuters reports, it should open in August.

AUD/NZD, 30 min

Pivot: 1.0730

Analysis:

Provided that the currency pair is traded below 1.0760, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.0730
• Take Profit 1: 1.0690
• Take Profit 2: 1.0670

Alternative scenario: 

In case of breakout of the level 1.0760, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.0760
• Take Profit 1: 1.0790
• Take Profit 2: 1.810

Comment:

RSI is below its neutral area by 50. The MACD is below its signal line and is positive. The MACD must break through the zero line to expect further declines. Moreover, the pair is traded at 20 mA (1.0734) but above 50 mA (1.0728). 

Key levels:

AUD/NZD, D1

Pivot: 1.0778

Analysis:

While the price is above 1.0590, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0778
• Take Profit 1: 1.1080
• Take Profit 2: 1.1210

Alternative scenario:

If the level 1.0590 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0590
• Take Profit 1: 1.0380
• Take Profit 2: 1.0250

Comment:

RSI is above the neutral area by 50. The MACD is above the signal line and is positive. The configuration is positive. Moreover, the pair is above its 20 and 50 moving averages (by 1.0679 and 1.0454 respectively). 

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

AUD/USD – sell below 0.6575 with 0.6505 and 0.6480 as Take Profit targets. Alternative scenario - if the level of 0.6575 is broken-out, you should consider buying with the targets 0.6595 and 0.6615 as Take Profit.
GBP/USD - short positions below 1.2250 with 1.2185 and 1.2150 targets as Take Profit. Alternative scenario - if the level of 1.2250 is broken-out, buy with the targets 1.2290 and 1.2325 as Take Profit.
USD/CAD – buy above 1.3935 with 1.4020 and 1.4045 targets as Take Profit. Alternative scenario - if the level 1.3935 is broken-down, sell with the TP 1.3890 and 1.3865.