AUD/USD: Trading Recommendations
Yuri Papshev | Jul 27, 2021 07:20AM ET
A break of the key support level of 0.7335 could finally push AUD/USD into a bear market. In an alternative scenario, the first signal for a reversal and resumption of the uptrend will be a breakdown of the resistance level 0.7381.
However, only a convincing rise to the zone above the resistance levels of 0.7510 (Fibonacci level of 50% correction to the wave of the pair's decline from the level of 0.9500 in July 2014 to the lows of 2020 near the level of 0.5510), 0.7520 will indicate the resumption of the long-term upward trend in AUD/USD.
In the current situation, short positions are preferred.
h2 Trading Recommendations/h2Sell by market, Sell-Stop 0.7330. Stop-Loss 0.7410. Take-Profit 0.7300, 0.7285, 0.7200, 0.7100, 0.7040
Buy Stop 0.7410. Stop-Loss 0.7330. Take-Profit 0.7489, 0.7510, 0.7520, 0.7570, 0.7740, 0.7815, 0.7835, 0.7885, 0.8000, 0.8160, 0.8200
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.