Source: PaxForex Premium Analytics Portal, Technical Insight

As G. Debelle, Deputy Head of Federal Bank of Australia, reported during his speech on monetary policy:

• He does not expect any increase in rates at least for the next three years;

• Bond purchase program puts downward pressure on AUD rate;

• The program was necessary because the yield on Australian 10-year bonds was higher than in other countries;

• Caution must be exercised to avoid premature withdrawal of stimuli.

• The country's public debt is managed and "absolutely supported";

• Vaccine news should help maintain confidence;

• Does not see high CPI risks in the foreseeable future;

• Not sure about the effectiveness of negative rates as a tool for accelerating inflation and employment.

AUD/USD, 30 min

Pivot: 0.7388

Analysis:

Provided that the currency pair is traded above 0.7375, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.7388
• Take Profit 1: 0.7410
• Take Profit 2: 0.7435

Alternative scenario: 

In case of breakdown of the level 0.7375, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.7375
• Take Profit 1: 0.7350
• Take Profit 2: 0.7330

Comment:

RSI shows the possibility of ascending momentum during the day.

Key levels:

AUD/USD, D1

Pivot: 0.7398

Analysis:

While the price is above 0.7200, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.7398
• Take Profit 1: 0.7520
• Take Profit 2: 0.7680

Alternative scenario:

If the level 0.7200 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.7200
• Take Profit 1: 0.7090
• Take Profit 2: 0.7000

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 - buy above 1.1940 with 1.2020 and 1.2040 targets as Take Profit. Alternative scenario - if the level 1.1940 is broken-down, sell with the TP 1.1915 and 1.1900.
GBP/USD – buy above 1.3310 with 1.3380 and 1.3400 as Take Profit targets. Alternative scenario - if the level of 1.3310 is broken-down, you should consider selling with the targets 1.3285 and 1.3260 as Take Profit.
USD/CHF - short positions below 0.9055 with 0.9000 and 0.8980 targets as Take Profit. Alternative scenario - if the level of 0.9055 is broken-out, buy with the targets 0.9080 and 0.9095 as Take Profit.