Source: PaxForex Premium Analytics Portal, Technical Insight
The AUD/USD pair once again shows some resilience below the 0.6400 mark and attracts some dip-buying during the Asian session on Monday, though the uptick lacks follow-through.
AUD/USD,D1
Pivot: 0.6415
Analysis:
Provided that the currency pair is below 0.6520, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6415
- Take Profit 1: 0.6100
- Take Profit 2: 0.6000
Alternative scenario:
In case of a broken-out of the level 0.6520, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6520
- Take Profit 1: 0.6680
- Take Profit 2: 0.6900
Comment:
RSI shows the possibility of a downtrend during the day.
Key levels:
| Resistance | Support |
| 0.6900 | 0.6100 |
| 0.6680 | 0.6000 |
| 0.6520 | 0.5900 |
