AUD/USD: technical analysis and trading recommendations_06/01/2022

 
 
 
 
 
 
 
AUD/USD H1 Chart

As we noted above, “at the time of publication of this article, the AUD/USD pair is traded near 0.7195 mark, maintaining positive dynamics (within an upward correction) above important short-term support levels 0.7138 (EMA200 on the 4-hour chart), 0.7124 (EMA200 on the hourly chart)".

AUD/USD H4 Chart

AUD/USD maintains positive momentum, tending towards the key resistance levels 0.7240 (EMA144 on the daily chart, 0.7270 (EMA200 on the daily chart).

AUD/USD D Chart

Further growth and breakout of the key resistance level 0.7310 (EMA200 on the weekly chart, EMA50 on the monthly chart) creates prerequisites for growth to the long-term resistance level 0.7600 (EMA200 on the monthly chart), which separates the long-term bull market from the bear market.

AUD/USD W Chart

However, the breakdown of the important support level 0.7165 (EMA50 on the daily chart) will be the first signal to resume short positions.

In this case, AUD/USD will head deeper into the descending channels on the daily and weekly charts, the lower limit of which is near the 0.6800 mark.

Support levels: 0.7165, 0.7138, 0.7124, 0.7085, 0.7064, 0.7037, 0.7000, 0.6970, 0.6800, 0.6450

Resistance levels: 0.7200, 0.7240, 0.7270, 0.7310, 0.7400, 0.7440, 0.7510, 0.7555, 0.7600, 0.7650

Trading Recommendations

Sell Stop 0.7145. Stop Loss 0.7210. Take-Profit 0.7138, 0.7124, 0.7085, 0.7064, 0.7037, 0.7000, 0.6970, 0.6800, 0.6450

Buy Stop 0.7210. Stop Loss 0.7145. Take-Profit 0.7240, 0.7270, 0.7310, 0.7400, 0.7440, 0.7510, 0.7555, 0.7600, 0.7650