Source: PaxForex Premium Analytics Portal, Technical Insight
Australian states toughened restrictions on movement on July 14. Thus, the authorities are trying to curb a new outbreak of coronavirus infection in the southeast of the country, reports Reuters.
AUD/USD, 30 min
Pivot: 0.6992
Analysis:
Provided that the currency pair is traded below 0.7010 follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.6992
- Take Profit 1: 0.6980
- Take Profit 2: 0.6960
Alternative scenario:
In case of breakout of the level 0.7010, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7010
- Take Profit 1: 0.7035
- Take Profit 2: 0.7055
Comment:
RSI shows the possibility of descending momentum during the day.
Key levels:
Resistance | Support |
0.7055 | 0.6980 |
0.7035 | 0.6960 |
0.7010 | 0.6930 |
AUD/USD, D1
Pivot: 0.7019
Analysis:
While the price is above 0.6780 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7019
- Take Profit 1: 0.7180
- Take Profit 2: 0.7290
Alternative scenario:
If the level 0.6780 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6780
- Take Profit 1: 0.6650
- Take Profit 2: 0.6500
Comment:
RSI shows a bullish sentiment.
Key levels:
Resistance | Support |
0.7350 | 0.6780 |
0.7290 | 0.6650 |
0.7180 | 0.6500 |
We also advise you to pay attention to the following currency pairs for intra-day trading:
GBP/USD – sell below 1.2580 with 1.2525 and 1.2505 as Take Profit targets. Alternative scenario - if the level of 1.2580 is broken-out, you should consider buying with the targets 1.2600 and 1.2525 as Take Profit.
USD/CHF - long positions above 0.9430 with 0.9460 and 0.9475 targets as Take Profit. Alternative scenario - if the level of 0.9430 is broken-down, sell with the targets 0.9405 and 0.9375 as Take Profit.
EUR/USD - sell below 1.1425 with 1.1360 and 1.1335 targets as Take Profit. Alternative scenario - if the level 1.1425 is broken-out, buy with the TP 1.1450 and 1.1470.