Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. dollar rose at the start of European trading on Monday as negotiations on the latest stimulus measures seem to be struggling as the election approaches.

AUD/USD, 30 min

Pivot: 0.7184

Analysis:

Provided that the currency pair is traded below 0.7200, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7184
• Take Profit 1: 0.7160
• Take Profit 2: 0.7145

Alternative scenario: 

In case of breakout of the level 0.7200, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7200
• Take Profit 1: 0.7220
• Take Profit 2: 0.7235

Comment:

RSI shows the possibility of descending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7230

Analysis:

While the price is above 0.7000, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7230
• Take Profit 1: 0.7415
• Take Profit 2: 0.7560

Alternative scenario:

If the level 0.7000 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7000
• Take Profit 1: 0.6830
• Take Profit 2: 0.6645

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 - sell below 1.1815 with 1.1785 and 1.1770 targets as Take Profit. Alternative scenario - if the level 1.1815 is broken-out, buy with the TP 1.1830 and 1.1850.
GBP/USD – sell below 1.3075 with 1.3030 and 1.3000 as Take Profit targets. Alternative scenario - if the level of 1.3075 is broken-out, you should consider buying with the targets 1.3095 and 1.3115 as Take Profit.
USD/CHF - short positions below 0.9110 with 0.9065 and 0.9050 targets as Take Profit. Alternative scenario - if the level of 0.9110 is broken-out, buy with the targets 0.9125 and 0.9145 as Take Profit.