AUD/USD: technical analysis and trading recommendations_07/27/2021


At the beginning of today's European session, the AUD / USD pair is traded near the 0.7360 mark, continuing to move within the descending channels on the daily and weekly charts and staying in the zone below the important resistance levels 0.7381 (ЕМА200 on the 1-hour chart), 0.7489 (ЕМА200 on the 4-hour chart), 0.7520 (ЕМА200 on the daily chart).

A break of the key support level 0.7335 (ЕМА200 and the lower line of the descending channel on the weekly chart) could finally push the pair 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 (ЕМА200 on the 1-hour chart).

However, only a convincing rise into the zone above the resistance levels 0.7510 (Fibonacci level 50% of the 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 (ЕМА200 on the daily chart) will indicate the resumption of the long-term upward dynamics of AUD / USD.

In the current situation, short positions are preferred.

Support levels: 0.7335, 0.7285

Resistance levels: 0.7381, 0.7489, 0.7510, 0.7520, 0.7570

Trading Recommendations

Sell 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