Source: PaxForex Premium Analytics Portal, Technical Insight
AUD plunged to 0.6512 last Friday before extending its decline during early Asian. The impulsive decline is likely to extend. That said, the next support at 0.6400 is likely out of reach for now (there is another support at 0.6460). Resistance is at 0.6530 followed by 0.6570.
AUD/USD,D1
Pivot: 0.6528
Analysis:
Provided that the currency pair is below 0.6700, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6528
- Take Profit 1: 0.6450
- Take Profit 2: 0.6300
Alternative scenario:
In case of a broken-out of the level 0.6700, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6700
- Take Profit 1: 0.6900
- Take Profit 2: 0.7000
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.7000 | 0.6450 |
| 0.6900 | 0.6300 |
| 0.6700 | 0.6200 |
