Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD remains on the defensive around 0.6500, eyes on US PMI data.
AUD/USD,D1
Pivot: 0.6421
Analysis:
Provided that the currency pair is below 0.6600, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6421
- Take Profit 1: 0.6300
- Take Profit 2: 0.6200
Alternative scenario:
In case level 0.6600 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6600
- Take Profit 1: 0.6700
- Take Profit 2: 0.6800
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.6800 | 0.6300 |
| 0.6700 | 0.6200 |
| 0.6600 | 0.6100 |
