Source: PaxForex Premium Analytics Portal, Technical Insight

Australian authorities intend to make coronavirus vaccination mandatory. As AFP reports, it was announced by Prime Minister Scott Morrison. According to him, Australia plans to establish the production of the vaccine, which is currently being developed by a Swedish-British pharmaceutical group together with Oxford University.

AUD/USD, 30 min

Pivot: 0.7402

Analysis:

Provided that the currency pair is traded above 0.7370 follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7402
• Take Profit 1: 0.7445
• Take Profit 2: 0.7470

Alternative scenario: 

In case of breakdown of the level 0.7370, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7370
• Take Profit 1: 0.7340
• Take Profit 2: 0.7315

Comment:

RSI shows the possibility of ascending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7399

Analysis:

While the price is above 0.7060 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7399
• Take Profit 1: 0.7510
• Take Profit 2: 0.7660

Alternative scenario:

If the level 0.7060 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7060
• Take Profit 1: 0.6835
• Take Profit 2: 0.6650

Comment:

RSI shows a bullish sentiment.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD - buy above 1.1930 with 1.2020 and 1.2050 targets as Take Profit. Alternative scenario - if the level 1.1930 is broken-down, sell with the TP 1.1905 and 1.1880.
GBP/USD – buy above 1.3355 with 1.3450 and 1.3490 as Take Profit targets. Alternative scenario - if the level of 1.3355 is broken-down, you should consider selling with the targets 1.3330 and 1.3300 as Take Profit.
USD/CHF - short positions below 0.9050 with 0.8975 and 0.8960 targets as Take Profit. Alternative scenario - if the level of 0.9050is broken-out, buy with the targets 0.9070 and 0.9090 as Take Profit.