Source: PaxForex Premium Analytics Portal, Technical Insight

Australian CSL, with the participation of English-Swedish AstraZeneca, launched the production of a new coronavirus vaccine in Australia. About 30 000 000 doses of the vaccine are planned to be produced in Victoria. Reportedly, each person may need two doses of the vaccine. The vaccine is still in the trial phase and is also awaiting approval from Therapeutic Goods Administration.

AUD/USD, 30 min

Pivot: 0.7313

Analysis:

Provided that the currency pair is traded above 0.7285, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7313
• Take Profit 1: 0.7340
• Take Profit 2: 0.7360

Alternative scenario: 

In case of breakdown of the level 0.7285, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7285
• Take Profit 1: 0.7265
• Take Profit 2: 0.7250

Comment:

RSI shows the possibility of ascending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7270

Analysis:

While the price is above 0.7100, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7270
• Take Profit 1: 0.7415
• Take Profit 2: 0.7520

Alternative scenario:

If the level 0.7100 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7100
• Take Profit 1: 0.6985
• Take Profit 2: 0.6900

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 1.1800 with 1.1840 and 1.1865 targets as Take Profit. Alternative scenario - if the level 1.1800 is broken-down, sell with the TP 1.1780 and 1.1760.
GBP/USD – buy above 1.3215 with 1.3300 and 1.3340 as Take Profit targets. Alternative scenario - if the level of 1.3215 is broken-down, you should consider selling with the targets 1.3170 and 1.3120 as Take Profit.
USD/CHF - long positions above 0.9125 with 0.9175 and 0.9200 targets as Take Profit. Alternative scenario - if the level of 0.9125 is broken-down, sell with the targets 0.9110 and 0.9090 as Take Profit.