Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD is gaining demand for an intraday high update, breaking out the two-day downtrend.
AUD/USD,D1
Pivot: 0.7083
Analysis:
Provided that the currency pair is below 0.7315, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7083
- Take Profit 1: 0.6910
- Take Profit 2: 0.6780
Alternative scenario:
In case of break-out of the level 0.7315, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7315
- Take Profit 1: 0.7400
- Take Profit 2: 0.7500
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7500 | 0.6910 |
| 0.7400 | 0.6780 |
| 0.7315 | 0.6530 |
