Source: PaxForex Premium Analytics Portal, Technical Insight

The impact on the Australian tourism sector in April and May reached 11.7 billion Australian dollars. The main reason for these losses is the restriction of tourist travel, closed borders between states, and mandatory self-isolation in the coronavirus pandemic. For example, in New South Wales, the number of tourists in April and May fell to 1.4 million from last year's 7 million

UD/USD, 30 min

Pivot: 0.7268

Analysis:

Provided that the currency pair is traded above 0.7250 follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7268
• Take Profit 1: 0.7290
• Take Profit 2: 0.7310

Alternative scenario: 

In case of breakdown of the level 0.7250, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7250
• Take Profit 1: 0.7230
• Take Profit 2: 0.7210

Comment:

RSI shows the possibility of ascending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7232

Analysis:

While the price is above 0.7060 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7232
• Take Profit 1: 0.7415
• Take Profit 2: 0.7510

Alternative scenario:

If the level 0.7060 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7060
• Take Profit 1: 0.6835
• Take Profit 2: 0.6650

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 - buy above 1.1795 with 1.1855 and 1.1875 targets as Take Profit. Alternative scenario - if the level 1.1795 is broken-down, sell with the TP 1.1775 and 1.1750.
GBP/USD – buy above 1.2955 with 1.3055 and 1.3125 as Take Profit targets. Alternative scenario - if the level of 1.2955 is broken-down, you should consider selling with the targets 1.2915 and 1.2885 as Take Profit.
USD/CHF - short positions below 0.9150 with 0.9080 and 0.9060 targets as Take Profit. Alternative scenario - if the level of 0.9150 is broken-out, buy with the targets 0.9165 and 0.9190 as Take Profit.