Source: PaxForex Premium Analytics Portal, Technical Insight
AUD/USD recovery approaches 0.6700 on stimulus hopes, ignores mixed China PMI, Aussie inflation clues.
AUD/USD,D1
Pivot: 0.6699
Analysis:
Provided that the currency pair is above 0.6600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6699
- Take Profit 1: 0.6800
- Take Profit 2: 0.6900
Alternative scenario:
In case level 0.6600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6600
- Take Profit 1: 0.6550
- Take Profit 2: 0.6500
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7100 | 0.6600 |
| 0.6900 | 0.6550 |
| 0.6800 | 0.6500 |
