Source: PaxForex Premium Analytics Portal, Technical Insight
The authorities of the Australian state of Victoria announced the introduction of strict quarantine from February 13 to 18 due to an outbreak of coronavirus in the administrative center of the region - Melbourne. This was announced by the head of the state government Daniel Andrews on Friday.
AUD/USD, 30 min
Pivot: 0.7801
Analysis:
Provided that the currency pair is traded above 0.7780, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7801
- Take Profit 1: 0.7820
- Take Profit 2: 0.7840
Alternative scenario:
In case of breakdown of the level 0.7780, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7780
- Take Profit 1: 0.7765
- Take Profit 2: 0.7750
- Comment:
RSI shows the possibility of ascending momentum during the day.
Key levels:
| Resistance | Support |
| 0.7860 | 0.7780 |
| 0.7840 | 0.7765 |
| 0.7820 | 0.7750 |
AUD/USD, D1
Pivot: 0.7763
Analysis:
While the price is above 0.7640, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7763
- Take Profit 1: 0.7900
- Take Profit 2: 0.7990
Alternative scenario:
If the level 0.7640 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7640
- Take Profit 1: 0.7555
- Take Profit 2: 0.7460
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 0.8100 | 0.7640 |
| 0.7990 | 0.7555 |
| 0.7900 | 0.7460 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - long positions above 1.2130 with 1.2175 and 1.2200 targets as Take Profit. Alternative scenario - if the level of 0.9025 is broken-down, sell with the targets 1.2120 and 1.2110 as Take Profit.
GBP/USD – buy above 1.3920 with 1.3985 and 1.4000 as Take Profit targets. Alternative scenario - if the level of 1.3920 is broken-down, you should consider selling with the targets 1.3895 and 1.3880 as Take Profit.
USD/CHF - sell below 0.8905 with 0.8860 and 0.8845 targets as Take Profit. Alternative scenario - if the level 0.8905 is broken-out, buy with the TP 0.8915 and 0.8925.
