Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair reversed after breaking the key resistance at 0.7557. Although there is a risk of a deeper corrective pullback, Credit Suisse analysts maintain a medium-term bullish outlook on the pair (rising to 0.7777/85).
AUD/USD,D1
Pivot: 0.7448
Analysis:
Provided that the currency pair is above 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7448
- Take Profit 1: 0.7550
- Take Profit 2: 0.7650
Alternative scenario:
In case of break-down of the level 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7300
- Take Profit 1: 0.7050
- Take Profit 2: 0.6980
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7770 | 0.7160 |
| 0.7650 | 0.7050 |
| 0.7550 | 0.6980 |
