AUD/USD: TRADING RECOMMENDATIONS

AUD/USD: TRADING RECOMMENDATIONS

16 July 2021, 13:33
Yuri Papshev
0
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AUD / USD is trading in the area of ​​the local support level of 0.7420, maintaining the tendency to further decline. A breakout of the support level of 0.7335 will finally return AUD / USD to a long-term downtrend (see also  "Fundamental Analysis and Recommendations")


In an alternative scenario, the first signal for a reversal and renewal of the uptrend will be a breakdown of the resistance levels 0.7469, 0.7510 (50% Fibonacci retracement to the wave of the pair's decline from 0.9500 in July 2014 to 2020 lows near 0.5510).


However, only a convincing rise to the zone above the resistance level of 0.7590 will indicate the resumption of the long-term upward trend in AUD / USD.

Trading Recommendations

Sell by market. Stop-Loss 0.7490. Take-Profit 0.7400, 0.7335

Buy Stop 0.7490. Stop-Loss 0.7410. Take-Profit 0.7510, 0.7535, 0.7558, 0.7590, 0.7742, 0.7815, 0.7835, 0.7885, 0.8000, 0.8160, 0.8200

*) AUD/USD:  Current Fundamental Analysis and Market Expectations

**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading

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