Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair failed to capitalize on Friday's rebound from multi-week peak lows after the NFP report and traded in a range on the first day of the new week. Against the backdrop of an upbeat US jobs report, a strong rise in US Treasury bond yields was a tailwind for the US dollar and limited the AUD/USD's upside potential.
AUD/USD,D1
Pivot: 0.7398
Analysis:
Provided that the currency pair is traded above 0.7280, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7398
- Take Profit 1: 0.7600
- Take Profit 2: 0.7720
Alternative scenario:
In case of break-down of the level 0.7280, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7280
- Take Profit 1: 0.7165
- Take Profit 2: 0.7100
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7720 | 0.7815 |
| 0.7600 | 0.7720 |
| 0.7465 | 0.7600 |
