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:

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:

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.