Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD: weekly resistance and 100-HMA meet buyers around 0.7150.
AUD/USD,D1
Pivot: 0.7041
Analysis:
Provided that the currency pair is below 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7041
- Take Profit 1: 0.6980
- Take Profit 2: 0.6900
Alternative scenario:
In case of break-down of the level 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7300
- Take Profit 1: 0.7440
- Take Profit 2: 0.7550
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7550 | 0.6980 |
| 0.7440 | 0.6900 |
| 0.7300 | 0.6850 |
