Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD bears jostle with short-term key support surrounding 0.6690 as bears try to retake control during early Monday morning in Europe. In doing so, the Aussie pair justifies the market’s risk-off mood as it prepares for the biggest daily fall in a week.
AUD/USD,D1
Pivot: 0.6684
Analysis:
Provided that the currency pair is above 0.6520, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6684
- Take Profit 1: 0.6750
- Take Profit 2: 0.6900
Alternative scenario:
In case of a broken-down of the level 0.6520, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6520
- Take Profit 1: 0.6380
- Take Profit 2: 0.6200
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7100 | 0.6520 |
| 0.6900 | 0.6380 |
| 0.6750 | 0.6200 |
