Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD treads water on a daily basis around 0.6760-70, despite recently picking up bids to pare the early losses heading into Monday’s European session. It’s worth noting that the Aussie pair marked the first weekly gain in three amid broad US Dollar weakness in the last week.
AUD/USD,D1
Pivot: 0.6755
Analysis:
Provided that the currency pair is below 0.6800, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6755
- Take Profit 1: 0.6650
- Take Profit 2: 0.6550
Alternative scenario:
In case the level 0.6800 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6800
- Take Profit 1: 0.6900
- Take Profit 2: 0.7000
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7000 | 0.6650 |
| 0.6900 | 0.6550 |
| 0.6800 | 0.6400 |
