AUDUSD Analysis – According to Reuters, analysts at HSBC believe that the Central Bank of Australia will lag behind other leading global banks in tightening monetary policy. HSBC admits that: Australia is among the countries most effectively coping with the pandemic;The economy is recovering with strong growth momentum;Unemployment is close to pre-covid levels;Consumer spending and home prices are booming;Consumer and business confidence indicators are upbeat.
The Analysis:
Provided that the currency pair is traded above 0.7740, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7757
- Take Profit 1: 0.7780
- Take Profit 2: 0.7800
Alternative scenario:
In case of breakdown of the level 0.7740, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7740
- Take Profit 1: 0.7725
- Take Profit 2: 0.7710
Source: PAXFOREX Broker
AUD/USD Intraday: the upside prevails.
Pivot:
0.7740
Our preference:
Long positions above 0.7740 with targets at 0.7780 & 0.7800 in extension.
Alternative scenario:
Below 0.7740 look for further downside with 0.7725 & 0.7710 as targets.
Comment:
The RSI advocates for further advance.
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Tags : AUDUSD AUDUSD Analysis
