Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair is displaying a sideways auction around the immediate hurdle of 0.6930 in the Asian session. The Aussie asset is expected to continue its upside journey amid sheer volatility in the US Dollar Index (DXY).
AUD/USD,D1
Pivot: 0.6936
Analysis:
Provided that the currency pair is above 0.6800, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6936
- Take Profit 1: 0.7000
- Take Profit 2: 0.7100
Alternative scenario:
In case the level 0.6800 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6800
- Take Profit 1: 0.6720
- Take Profit 2: 0.6650
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7200 | 0.6800 |
| 0.7100 | 0.6720 |
| 0.7000 | 0.6650 |
