2 August 2021, 12:17
Yuri Papshev

A break of the key support level of 0.7335 could finally push the pair into a bear market. In this case, the breakdown of the support level 0.7295 will only be a confirmation signal for such a scenario.

In an alternative scenario, the first signal for a reversal and resumption of the uptrend will be a breakdown of the resistance level 0.7372.

However, only a convincing rise to the zone above the resistance levels of 0.7510, 0.7560 will indicate the resumption of the long-term upward dynamics of AUD / USD.

Short positions are preferred (see also  "Fundamental Analysis and Recommendations")

Trading Recommendations

Sell by market, Sell-Stop 0.7325. Stop-Loss 0.7415. Take-Profit 0.7300, 0.7295, 0.7200, 0.7100, 0.7040

Buy Stop 0.7415. Stop-Loss 0.7325. Take-Profit 0.7466, 0.7510, 0.7560, 0.7775, 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") -

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