Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD holds positive ground above 0.6900 ahead of Chinese PMI data.
AUD/USD,D1
Pivot: 0.6912
Analysis:
Provided that the currency pair is above 0.6800, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6912
- Take Profit 1: 0.7000
- Take Profit 2: 0.7100
Alternative scenario:
In case level 0.6800 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6800
- Take Profit 1: 0.6700
- Take Profit 2: 0.6600
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7200 | 0.6800 |
| 0.7100 | 0.6700 |
| 0.7000 | 0.6600 |
