Source: PaxForex Premium Analytics Portal, Technical Insight
The authorities of Great Britain and Australia have agreed on free trade. Lifting restrictions should make the economy of the two countries healthier, said the British Minister for International Trade. She also emphasized that supporting measures are especially important in the conditions of the pandemic. The agreement is expected to be signed in June 2021.
AUD/USD, 30 min
Pivot: 0.7775
Analysis:
Provided that the currency pair is traded above 0.7740, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7775
- Take Profit 1: 0.7790
- Take Profit 2: 0.7815
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: 0.7720
- Take Profit 2: 0.7705
Comment:
RSI shows the possibility of ascending momentum during the day.
Key levels:
| Resistance | Support |
| 0.7840 | 0.7740 |
| 0.7815 | 0.7720 |
| 0.7790 | 0.7705 |
AUD/USD, D1
Pivot: 0.7746
Analysis:
While the price is below 0.7830, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7746
- 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 - buy above 1.2085 with 1.2145 and 1.2160 targets as Take Profit. Alternative scenario - if the level of 1.2085 is broken-down, sell with the targets 1.2060 and 1.2040 as Take Profit.
GBP/USD – long positions above 1.3865 with 1.3945 and 1.3970 as Take Profit targets. Alternative scenario - if the level of 1.3865 is broken-down, sell with the targets 1.3850 and 1.3835 as Take Profit.
USD/CHF - sell below 0.9145 with 0.9090 and 0.9075 targets as Take Profit. Alternative scenario - if the level 0.9145 is broken-out, you should consider buying with the TP 0.9160 and 0.9175.
