Source: PaxForex Premium Analytics Portal, Technical Insight

Health regulators in Australia issued a permit on Monday to use the COVID-19 coronavirus vaccine developed by Pfizer/BioNTech in the country. The use of the vaccine is approved for persons 16 years of age and older. The vaccination is expected to start towards the end of February

AUD/USD, 30 min

Pivot: 0.7735

Analysis:

Provided that the currency pair is traded below 0.7760, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7735
• Take Profit 1: 0.7720
• Take Profit 2: 0.7700

Alternative scenario: 

In case of breakout of the level 0.7760 follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7760
• Take Profit 1: 0.7780
• Take Profit 2: 0.7800

Comment:

RSI shows the possibility of descending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7743

Analysis:

While the price is above 0.7555, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7743
• Take Profit 1: 0.7820
• Take Profit 2: 0.7990

Alternative scenario:

If the level 0.7555 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7555
• Take Profit 1: 0.7460
• Take Profit 2: 0.7345

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 - sell below 1.2170 with 1.2135 and 1.2120 targets as Take Profit. Alternative scenario - if the level 1.2170 is broken-out, buy with the TP 1.2180 and 1.2190.
GBP/USD – buy above 1.3720 with 1.3765 and 1.3780 as Take Profit targets. Alternative scenario - if the level of 1.3720 is broken-down, you should consider selling with the targets 1.3700 and 1.3675 as Take Profit.
USD/CHF - short positions below 0.8880 with 0.8840 and 0.8820 targets as Take Profit. Alternative scenario - if the level of 0.8880 is broken-out, buy with the targets 0.8895 and 0.8910 as Take Profit.