Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD: a breakout of 0.7250 will open the way to the August low at 0.7106 - Commerzbank.
AUD/USD,D1
Pivot: 0.7228
Analysis:
Provided that the currency pair is traded below 0.7430, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7228
- Take Profit 1: 0.7165
- Take Profit 2: 0.7100
Alternative scenario:
In case of break-out of the level 0.7430, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7430
- Take Profit 1: 0.7555
- Take Profit 2: 0.7680
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7680 | 0.7165 |
| 0.7555 | 0.7100 |
| 0.7430 | 0.7010 |
