Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair kicks off the new week on a positive note and climbs to its highest level since mid-August during the Asian session. The pair, however, trim a part of its intraday gains and retreat below the 0.7000 psychological mark in the last hour.
AUD/USD,D1
Pivot: 0.6971
Analysis:
Provided that the currency pair is above 0.6860, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6971
- Take Profit 1: 0.7000
- Take Profit 2: 0.7200
Alternative scenario:
In case the level 0.6860 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6860
- Take Profit 1: 0.6715
- Take Profit 2: 0.6630
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7300 | 0.6830 |
| 0.7200 | 0.6715 |
| 0.7000 | 0.6630 |
