Source: PaxForex Premium Analytics Portal, Technical Insight

AUD/USD risk proximity took a leg higher in early Asian trading but retraced after hitting the 0.6730 mark. It is currently trading unchanged. In the early Asian hours, risk appetite expanded along with some high beta currencies on the back of coordinated efforts from major central banks on the liquidity crunch.

AUD/USD,D1

Pivot: 0.6680

Analysis:

Provided that the currency pair is below 0.6800, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.6680
• Take Profit 1: 0.6550
• Take Profit 2: 0.6400

Alternative scenario: 

In case the level 0.6800 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6800
• Take Profit 1: 0.6900
• Take Profit 2: 0.7000

Comment:

RSI shows the possibility of a downtrend during the day.

Key levels: