AUD/USD: Trading recommendations

Yuri Papshev Independent Analyst

At the moment, AUD / USD maintains positive momentum and is inclined to resume gains, trading in the zone above the strong short-term support level of 0.7741. AUD / USD also remains above important support levels 0.7710, 0.7718.

A breakdown of the local resistance level 0.7815 (April highs and the upper border of the descending channel on the daily chart) will be a signal for the resumption of long positions with a distant target at 0.8160 (the upper border of the ascending channel on the weekly chart).

Support levels: 0.7741, 0.7718, 0.7710, 0.7600, 0.7570, 0.7510, 0.7480, 0.7300.

Resistance levels: 0.7815, 0.7850, 0.7980, 0.8000, 0.8160.

Trading recommendations

Sell Stop 0.7690. Stop-Loss 0.7770. Take-Profit 0.7600, 0.7570, 0.7510, 0.7480, 0.7300.

Buy Stop 0.7770. Stop-Loss 0.7690. Take-Profit 0.7815, 0.7850, 0.7980, 0.8000, 0.8160.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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