Source: PaxForex Premium Analytics Portal, Technical Insight
The Australian exports fell 9% mom in January:
- Australia: January, pre export of goods -$3.047 million (-9% m/m) to $32.126 million;
- Goods Import -$2.626 million (-10% m/m) to $23.372 million;
- Trade surplus $8.754 mln;
- Export +13% YoY, import -7% YoY.
AUD/USD, 30 min
Pivot: 0.7955
Analysis:
Provided that the currency pair is traded above 0.7940, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7955
- Take Profit 1: 0.8000
- Take Profit 2: 0.8020
Alternative scenario:
In case of breakdown of the level 0.7940, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7940
- Take Profit 1: 0.7920
- Take Profit 2: 0.7890
Comment:
RSI shows the possibility of ascending momentum during the day.
Key levels:
Resistance | Support |
0.8050 | 0.7940 |
0.8020 | 0.7920 |
0.8000 | 0.7890 |
AUD/USD, D1
Pivot: 0.7921
Analysis:
While the price is above 0.7680, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7921
- Take Profit 1: 0.7990
- Take Profit 2: 0.8130
Alternative scenario:
If the level 0.7680 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7680
- Take Profit 1: 0.7555
- Take Profit 2: 0.7460
Comment:
RSI shows a bullish sentiment.
Key levels:
Resistance | Support |
0.8290 | 0.7680 |
0.8130 | 0.7555 |
0.7990 | 0.7460 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - long positions above 1.2145 with 1.2180 and 1.2200 targets as Take Profit. Alternative scenario - if the level of 1.2145 is broken-down, sell with the targets 1.2130 and 1.2110 as Take Profit.
GBP/USD – buy above 1.4110 with 1.4205 and 1.4240 as Take Profit targets. Alternative scenario - if the level of 1.4110 is broken-down, you should consider selling with the targets 1.4080 and 1.4050 as Take Profit.
USD/CHF - sell below 0.9080 with 0.9025 and 0.8990 targets as Take Profit. Alternative scenario - if the level 0.9080 is broken-out, buy with the TP 0.9095 and 0.9110.