Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD will strengthen with support from the Australian economy - CIBC.
AUD/USD,D1
Pivot: 0.7328
Analysis:
Provided that the currency pair is traded below 0.7460, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7328
- Take Profit 1: 0.7250
- Take Profit 2: 0.7165
Alternative scenario:
In case of break-out of the level 0.7460, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7460
- Take Profit 1: 0.7555
- Take Profit 2: 0.7680
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7680 | 0.7250 |
| 0.7555 | 0.7165 |
| 0.7460 | 0.7100 |
