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USD/CAD: technical analysis 16 July 2019, 11:19

USD/CAD: technical analysis 16 July 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.303...

May 14, 2019

AUD/USD: technical analysis 14 May 2019, 12:26


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 0.6945
Take Profit 0.6900, 0.6830
Stop Loss 0.6990
Key Levels 0.6760, 0.6830, 0.6900, 0.6990, 0.7015, 0.7060
Alternative scenario
Recommendation BUY STOP
Entry Point 0.7015
Take Profit 0.7060
Stop Loss 0.6990
Key Levels 0.6760, 0.6830, 0.6900, 0.6990, 0.7015, 0.7060
AUD/USD, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is about to retest the border of the oversold zone. The Composite is about to test from below its longer MA.

AUD/USD, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is approaching the border of the oversold zone. The Composite keeps showing Bullish dynamics.

Key levels
Support levels: 0.6900 (September 2015 lows), 0.6830 (January 2016 lows), 0.6760 (January lows).
Resistance levels: 0.6990 (local lows), 0.7015 (local highs), 0.7060 (local highs).
Trading tips
The price has broken down its strong support near 0.6990. The fall is likely to continue.
Short positions can be opened from current prices with targets at 0.6900, 0.6830 and stop-loss at 0.6990. Validity – 3-5 days.
Long positions can be opened from the level of 0.7015 with the target at 0.7060 and stop-loss at 0.6990. Validity – 3-5 days.

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