AUD/USD: technical analysis and trading recommendations_04/05/2021
At the beginning of today's European session, the price is testing the important short-term resistance level of 0.7626 (ЕМА200 on the 1-hour AUD / USD chart).
In case of its breakdown, AUD / USD will go towards the next resistance level 0.7687 (ЕМА200 on the 4-hour chart and ЕМА50 on the daily chart).
A breakdown of this level will resume the upward trend in AUD / USD and make long positions relevant again. In the zone above the key support levels 0.7415 (ЕМА200 on the daily chart), 0.7285 (ЕМА200 on the weekly chart), the long-term positive dynamics of AUD / USD remains.
In an alternative scenario, the price will not be able to break through the resistance level 0.7626 and the decline in AUD / USD will continue to support levels 0.7510 (ЕМА144 on the daily chart and 50% Fibonacci level of the correction to the wave of the pair's decline from 0.9500 in July 2014 to 2020 lows near 0.5510), 0.7415.
A breakdown of the support level 0.7285 will finally return AUD / USD to a long-term downtrend.
Support levels: 0.7570, 0.7510, 0.7415, 0.7285
Resistance levels: 0.7626, 0.7687, 0.7850, 0.7980, 0.8000, 0.8160
Sell Stop 0.7580. Stop-Loss 0.7670. Take-Profit 0.7510, 0.7415, 0.7300, 0.7285
Buy Stop 0.7670. Stop-Loss 0.7580. Take-Profit 0.7687, 0.7700, 0.7850, 0.7980, 0.8000, 0.8160