Source: PaxForex Premium Analytics Portal, Technical Insight

According to Reuters, analysts at HSBC believe that the Central Bank of Australia will lag behind other leading global banks in tightening monetary policy. HSBC admits that: 

• Australia is among the countries most effectively coping with the pandemic;
• The economy is recovering with strong growth momentum;
• Unemployment is close to pre-covid levels;
• Consumer spending and home prices are booming;
• Consumer and business confidence indicators are upbeat.

AUD/USD, 30 min

Pivot: 0.7757

Analysis:

Provided that the currency pair is traded above 0.7740, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7757
• Take Profit 1: 0.7780
• Take Profit 2: 0.7800

Alternative scenario: 

In case of breakdown of the level 0.7740, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7740
• Take Profit 1: 0.7725
• Take Profit 2: 0.7710

Comment:

RSI shows the possibility of ascending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7731

Analysis:

While the price is above 0.7670, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7731
• Take Profit 1: 0.7890
• Take Profit 2: 0.8000

Alternative scenario:

If the level 0.7670 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7670
• Take Profit 1: 0.7580
• Take Profit 2: 0.7500

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 - buy above 1.2205 with 1.2255 and 1.2270 targets as Take Profit. Alternative scenario - if the level of 1.2205 is broken-down, sell with the targets 1.2190 and 1.2175 as Take Profit.
GBP/USD – long positions above 1.4150 with 1.4210 and 1.4230 as Take Profit targets. Alternative scenario - if the level of 1.4150 is broken-down, sell with the targets 1.4130 and 1.4115 as Take Profit.
USD/CHF -  sell below 0.8975 with 0.8935 and 0.8920 targets as Take Profit. Alternative scenario - if the level 0.8975 is broken-out, you should consider buying with the TP 0.8995 and 0.9010.