Source: PaxForex Premium Analytics Portal, Technical Insight
Reuters reports comments from RBA deputy governor Debelle, who said that the central bank will not raise rates until inflation has settled in the 2-3% range.
"So far, that's not expected to happen until 2024," Debelle added. - If we didn't provide stimulus, we would get a much stronger currency appreciation."
AUD/USD, 30 min
Pivot: 0.7612
Analysis:
Provided that the currency pair is traded above 0.7580, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7612
- Take Profit 1: 0.7655
- Take Profit 2: 0.7680
Alternative scenario:
In case of breakdown of the level 0.7580, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7580
- Take Profit 1: 0.7560
- Take Profit 2: 0.7540
Comment:
RSI shows the possibility of ascending momentum during the day.
Key levels:
| Resistance | Support |
| 0.7700 | 0.7580 |
| 0.7680 | 0.7560 |
| 0.7655 | 0.7540 |
AUD/USD, D1
Pivot: 0.7599
Analysis:
While the price is below 0.7830, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7599
- Take Profit 1: 0.7500
- Take Profit 2: 0.7370
Alternative scenario:
If the level 0.7830 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7830
- Take Profit 1: 0.8000
- Take Profit 2: 0.8085
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 0.8085 | 0.7500 |
| 0.8000 | 0.7370 |
| 0.7830 | 0.7210 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - sell below 1.1800 with 1.1740 and 1.1720 targets as Take Profit. Alternative scenario - if the level of 1.1800 is broken-out, buy with the targets 1.1820 and 1.1840 as Take Profit.
GBP/USD – buy above 1.3730 with 1.3800 and 1.3820 as Take Profit targets. Alternative scenario - if the level of 1.3730 is broken-down, you should consider selling with the targets 1.3700 and 1.3670 as Take Profit.
USD/CHF - long positions above 0.9365 with 0.9440 and 0.9460 targets as Take Profit. Alternative scenario - if the level 0.9365 is broken-down, sell with the TP 0.9345 and 0.9325.
