Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD: 0.7000 barrier might be under threat.
AUD/USD,D1
Pivot: 0.7254
Analysis:
Provided that the currency pair is traded below 0.7465, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7254
- Take Profit 1: 0.7100
- Take Profit 2: 0.7000
Alternative scenario:
In case of break-out of the level 0.7465, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7465
- Take Profit 1: 0.7600
- Take Profit 2: 0.7760
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7760 | 0.7100 |
| 0.7600 | 0.7000 |
| 0.7465 | 0.6895 |
