Source: PaxForex Premium Analytics Portal, Technical Insight

During his evening speech, the President of the St. Louis Federal Reserve, J. Bullard (does not vote in the FOMC), expressed optimism about the prospects of the economy and the fight against the coronavirus:

• The Fed will keep rates at low levels for a long time to come;

• For the time being, the Fed's monetary policy is "in excellent shape;

• For now, the implementation of the Central Bank's policy is going well.

AUD/USD, 30 min

Pivot: 0.7109

Analysis:

Provided that the currency pair is traded below 0.7115, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7109
• Take Profit 1: 0.7070
• Take Profit 2: 0.7045

Alternative scenario: 

In case of breakout of the level 0.7115, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7115
• Take Profit 1: 0.7135
• Take Profit 2: 0.7150

Comment:

RSI shows the possibility of descending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7087

Analysis:

While the price is below 0.7240, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7087
• Take Profit 1: 0.7000
• Take Profit 2: 0.6920

Alternative scenario:

If the level 0.7240 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7240
• Take Profit 1: 0.7340
• Take Profit 2: 0.7415

Comment:

RSI shows a bearish sentiment.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD - sell below 1.1865 with 1.1815 and 1.1800 targets as Take Profit. Alternative scenario - if the level 1.1865 is broken-out, buy with the TP 1.1880 and 1.1900.
GBP/USD – buy above 1.3100 with 1.3175 and 1.3200 as Take Profit targets. Alternative scenario - if the level of 1.3100 is broken-down, you should consider selling with the targets 1.3075 and 1.3045 as Take Profit.
USD/CHF - long positions above 0.9045 with 0.9090 and 0.9110 targets as Take Profit. Alternative scenario - if the level of 0.9045 is broken-down, sell with the targets 0.9025 and 0.9010 as Take Profit.