AUD/USD: technical analysis and trading recommendations_03/01/2021


Last week, AUD / USD broke through the important psychological level of 0.8000, however, then fell sharply due to the strengthening of the US dollar. Nevertheless, the pair maintains long-term positive dynamics and potential for growth renewal.

In the zone above the key support levels 0.7430 (ЕМА144 on the daily chart), 0.7340 (ЕМА200 on the daily chart), 0.7270 (ЕМА200 on the weekly chart), the long-term positive dynamics of AUD / USD remains.

A breakout of the resistance level of 0.8000 will be a signal for the resumption of growth in AUD / USD towards the resistance levels 0.8100, 0.8160. But for this, the pair needs to re-consolidate in the area above the resistance levels 0.7743 (ЕМА200 on the 4-hour chart), 0.7780.

Breakdown of the resistance level 0.7833 (ЕМА200 on the 1-hour chart) will confirm the development of this scenario.

In an alternative scenario, a signal for selling AUD / USD will be a breakdown of the important support level 0.7690 (ЕМА50 and the lower line of the ascending channel on the daily chart) with targets at support levels 0.7510 (Fibonacci level 50% of the correction to the wave of the pair's decline from 0.9500 in July 2014 to 2020 lows near 0.5510), 0.7430, 0.7340, 0.7270.

Support levels: 0.7690, 0.7510, 0.7430, 0.7340, 0.7270

Resistance levels: 0.7743, 0.7830, 0.7850, 0.7980, 0.8000, 0.8160

Trading Recommendations

Sell Stop 0.7680. Stop-Loss 0.7790. Take-Profit 0.7600, 0.7510, 0.7430, 0.7340, 0.7270

Buy Stop 0.7790. Stop-Loss 0.7680. Take-Profit 0.7830, 0.7850, 0.7980, 0.8000, 0.8160