Sep 15, 2020, 10:48:16 AM
AUD/USD: technical analysis
AUD/USD, H4
On the 4-hour chart, the lateral trend remains. The instrument is consolidating at the upper line of Bollinger Bands; the indicator cloud is expanding, an uptrend is likely to form in the short term. MACD histogram is near the zero level, its volumes are minimal; the signal line is directed horizontally without forming a clear signal to enter the market. Stochastic is in the neutral zone, demonstrating lateral movement.
AUD/USD, D1
On the D1 chart, the uptrend is still in force. The instrument returned to growth after a short-term correction and is trading in the area of the center line of Bollinger Bands; the indicator cloud is narrowed, the formation of a lateral trend is likely in the medium term. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is in the neutral zone, and the lines of the oscillator are directed upwards. The buy signal remains.
Key levels
Resistance levels: 0.7340, 0.7370, 0.7400, 0.7415.
Support levels: 0.7300, 0.7260, 0.7230, 0.7210, 0.7190, 0.7160.
Trading tips
Long positions can opened from the level of 0.7340 with the target at 0.7400 and stop-loss at 0.7300.
Short positions may be opened from the level of 0.7260 with target at 0.7210. Stop-loss – 0.7290.
Implementation time: 1-3 days.
Scenario
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Timeframe
Intraday
-
Recommendation
BUY STOP
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Entry Point
0.7340
-
Take Profit
0.7400
-
Stop Loss
0.7300
-
Key Levels
0.7160, 0.7190, 0.7210, 0.7230, 0.7260, 0.7300, 0.7340, 0.7370, 0.7400, 0.7415
Alternative scenario
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Timeframe
Intraday
-
Recommendation
SELL STOP
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Entry Point
0.7260
-
Take Profit
0.7210
-
Stop Loss
0.7290
-
Key Levels
0.7160, 0.7190, 0.7210, 0.7230, 0.7260, 0.7300, 0.7340, 0.7370, 0.7400, 0.7415
