Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair reversed its intraday drop to below 0.6900 and again approached the nearly four-week high reached earlier on Friday. The pair last traded around 0.6920 in the first half of the European session.
AUD/USD,D1
Pivot: 0.6918
Analysis:
Provided that the currency pair is below 0.7070, follow the recommendations below
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6918
- Take Profit 1: 0.6700
- Take Profit 2: 0.6600
Alternative scenario:
In case of a break-out of the level 0.6975, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6975
- Take Profit 1: 0.7060
- Take Profit 2: 0.7165
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7165 | 0.6700 |
| 0.7060 | 0.6600 |
| 0.6975 | 0.6550 |
