Levels to trade AUD/USD

Levels to trade AUD/USD

2020-03-24 • Updated

After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area. The Awesome Oscillator on the H4 rose to the zero level. This allows expecting that the pair may try to make a bigger recovery. Bullish positions will become possible once the pair rises above the 50-period MA at 0.6000. Upside targets lie at 0.6095 (50% Fibonacci of March decline) and 0.6235 (61.8% Fibo).

On the other hand, it’s necessary to remember that the pair is still within the downtrend, so the decline may resume. The fall below 0.5880 will open the way down to 0.5830.

Trade idea for AUD/USD

BUY 0.6010; TP 0.6090; SL 0.5990

SELL 0.5875; TP 0.5830; SL 0.5895

AUDUSDH4.png

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Similar

Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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