Source: PaxForex Premium Analytics Portal, Technical Insight

AUD/USD collapsed to 3-week lows below 0.7300.

AUD/USD,D1

Pivot: 0.7262

Analysis:

Provided that the currency pair is traded above 0.7220, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7262
• Take Profit 1: 0.7430
• Take Profit 2: 0.7680

Alternative scenario: 

In case of break-down of the level 0.7220, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7220
• Take Profit 1: 0.7100
• Take Profit 2: 0.7000

Comment:

RSI shows the possibility of an uptrend during the day.

Key levels: