Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD: The Australian dollar may decline only moderately - Wells Fargo.
AUD/USD,D1
Pivot: 0.7002
Analysis:
Provided that the currency pair is above 0.7000, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7186
- Take Profit 1: 0.7280
- Take Profit 2: 0.7445
Alternative scenario:
In case of break-down of the level 0.7000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7000
- Take Profit 1: 0.6825
- Take Profit 2: 0.6700
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7555 | 0.7000 |
| 0.7445 | 0.6825 |
| 0.7280 | 0.6700 |
