AUDUSD Analysis

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AUDUSD Analysis РAccording 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.

Forex Broker- Fxpro Forex Broker


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