Source: PaxForex Premium Analytics Portal, Technical Insight

Cleveland Fed President Loretta Mester said Tuesday that she expects the U.S. economy to be weak in the first few months of 2021, Reuters reported. "If vaccination is triggered, strong growth is expected in the second half of 2021. I don't expect to see any further progress toward the Fed's goals this year. We need a more accommodative policy than we have had in the past to raise inflation to the Fed's 2% target.

AUD/USD, 30 min

Pivot: 0.7785

Analysis:

Provided that the currency pair is traded below 0.7820, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7785
• Take Profit 1: 0.7760
• Take Profit 2: 0.7730

Alternative scenario: 

In case of breakout of the level 0.7820, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7820
• Take Profit 1: 0.7840
• Take Profit 2: 0.7860

Comment:

RSI shows the possibility of descending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7786

Analysis:

While the price is above 0.7395, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7786
• Take Profit 1: 0.7880
• Take Profit 2: 0.7990

Alternative scenario:

If the level 0.7395 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7395
• Take Profit 1: 0.7220
• Take Profit 2: 0.7090

Comment:

RSI shows a bullish sentiment.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD - sell below 1.2350 with 1.2280 and 1.2255 targets as Take Profit. Alternative scenario - if the level 1.2350 is broken-out, buy with the TP 1.2375 and 1.2400.
GBP/USD – sell below 1.3635 with 1.3535 and 1.3500 as Take Profit targets. Alternative scenario - if the level of 1.3635 is broken-out, you should consider buying with the targets 1.3670 and 1.3700 as Take Profit.
USD/CHF - long positions above 0.8755 with 0.8845 and 0.8860 targets as Take Profit. Alternative scenario - if the level of 0.8755 is broken-down, sell with the targets 0.8740 and 0.8725 as Take Profit.