Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair continued to fall amid mixed economic data from the U.S. released on Thursday. Nevertheless, the dovish stance of the RBA favors the dollar.
AUD/USD,D1
Pivot: 0.7354
Analysis:
Provided that the currency pair is above 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7354
- Take Profit 1: 0.7440
- Take Profit 2: 0.7550
Alternative scenario:
In case of break-down of the level 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7300
- Take Profit 1: 0.7165
- Take Profit 2: 0.6980
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7650 | 0.7300 |
| 0.7550 | 0.7165 |
| 0.7440 | 0.6980 |
