Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD: Australian dollar downside risks in the short term have declined - MUFG.
AUD/USD,D1
Pivot: 0.7128
Analysis:
Provided that the currency pair is traded below 0.7315, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7128
- Take Profit 1: 0.7010
- Take Profit 2: 0.6910
Alternative scenario:
In case of break-out of the level 0.7315, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7315
- Take Profit 1: 0.7430
- Take Profit 2: 0.7555
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7555 | 0.7010 |
| 0.7430 | 0.6910 |
| 0.7315 | 0.6850 |
