Source: PaxForex Premium Analytics Portal, Technical Insight
On Friday the AUD/USD had a second consecutive day of active selling and fell to its lowest level since March 17.
AUD/USD,D1
Pivot: 0.7153
Analysis:
Provided that the currency pair is above 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7153
- Take Profit 1: 0.7090
- Take Profit 2: 0.6980
Alternative scenario:
In case of break-down of the level 0.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7300
- Take Profit 1: 0.7440
- Take Profit 2: 0.7550
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7550 | 0.7090 |
| 0.7440 | 0.6980 |
| 0.7300 | 0.6900 |
