Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD retreats to 0.6775 as it defies the three-day winning streak heading into Monday’s European session. In doing so, the Aussie pair retreats toward the 200-Hour Moving Average (HMA) amid the bearish MACD signals.
AUD/USD,D1
Pivot: 0.6769
Analysis:
Provided that the currency pair is above 0.6600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6769
- Take Profit 1: 0.6900
- Take Profit 2: 0.7000
Alternative scenario:
In case of a broken-down of the level 0.6600, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6600
- Take Profit 1: 0.6500
- Take Profit 2: 0.6380
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7100 | 0.6600 |
| 0.7000 | 0.6500 |
| 0.6900 | 0.6380 |
