Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD recovers its recent losses above 0.6300 ahead of the Australian PMI.
AUD/USD,D1
Pivot: 0.6314
Analysis:
Provided that the currency pair is below 0.6500, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6314
- Take Profit 1: 0.6250
- Take Profit 2: 0.6150
Alternative scenario:
In case level 0.6500 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6500
- Take Profit 1: 0.6600
- Take Profit 2: 0.6700
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.6700 | 0.6250 |
| 0.6600 | 0.6150 |
| 0.6500 | 0.6050 |
