Source: PaxForex Premium Analytics Portal, Technical Insight
At Tuesday's trading, the dollar overcame the weak level as traders balanced between the increase in COVID-19 infections, the expansion of quarantine restrictions, and the likely fiscal stimulus and the spread of the vaccine
AUD/USD, 30 min
Pivot: 0.7446
Analysis:
Provided that the currency pair is traded above 0.7415, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7446
- Take Profit 1: 0.7465
- Take Profit 2: 0.7480
Alternative scenario:
In case of breakdown of the level 0.7415, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7415
- Take Profit 1: 0.7400
- Take Profit 2: 0.7385
Comment:
RSI shows the possibility of ascending momentum during the day.
Key levels:
| Resistance | Support |
| 0.7495 | 0.7415 |
| 0.7480 | 0.7400 |
| 0.7465 | 0.7385 |
AUD/USD, D1
Pivot: 0.7430
Analysis:
While the price is above 0.7220, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7430
- Take Profit 1: 0.7520
- Take Profit 2: 0.7680
Alternative scenario:
If the level 0.7220 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7220
- Take Profit 1: 0.7090
- Take Profit 2: 0.7000
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 0.7800 | 0.7220 |
| 0.7680 | 0.7090 |
| 0.7520 | 0.7000 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.2095 with 1.2175 and 1.2190 targets as Take Profit. Alternative scenario - if the level 1.2095 is broken-down, sell with the TP 1.2080 and 1.2060.
GBP/USD – buy above 1.3335 with 1.3470 and 1.3535 as Take Profit targets. Alternative scenario - if the level of 1.3335 is broken-down, you should consider selling with the targets 1.3290 and 1.3225 as Take Profit.
USD/CHF - short positions below 0.8900 with 0.8845 and 0.8830 targets as Take Profit. Alternative scenario - if the level of 0.8900 is broken-out, buy with the targets 0.8915 and 0.8930 as Take Profit.
