Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD picks up bids to refresh intraday high near 0.6720 during early Monday. In doing so, the Aussie pair prints the first daily gains in three while bouncing off the lowest levels in eight days.
AUD/USD,D1
Pivot: 0.6707
Analysis:
Provided that the currency pair is above 0.6600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6707
- Take Profit 1: 0.6900
- Take Profit 2: 0.7000
Alternative scenario:
In case of a broken-down of the level 0.6600, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6600
- Take Profit 1: 0.6500
- Take Profit 2: 0.6380
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7100 | 0.6600 |
| 0.7000 | 0.6500 |
| 0.6900 | 0.6380 |
