Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD is not able to continue the corrective pullback from the yearly low so far, it rolls back to 0.7015 before the start of Monday's European session.
AUD/USD,D1
Pivot: 0.6997
Analysis:
Provided that the currency pair is traded below 0.7230, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6997
- Take Profit 1: 0.6910
- Take Profit 2: 0.6740
Alternative scenario:
In case of break-out of the level 0.7230, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7230
- Take Profit 1: 0.7350
- Take Profit 2: 0.7450
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7450 | 0.6910 |
| 0.7350 | 0.6740 |
| 0.7230 | 0.6580 |
