AUD/USD: Trading recommendations

Yuri Papshev Independent Analyst

At the beginning of today's European session, the price is testing the important resistance level of 0.7750.

Employment in Australia has been recovering very rapidly in recent months, as is overall economic activity, which has grown at its highest rate in 70 years.

A breakdown of this level will confirm the resumption of the upward trend in AUD/USD and direct it towards the important resistance level of 0.7850 with the prospect of growth to the resistance levels of 0.7980, 0.8160.

Support levels: 0.7675, 0.7651, 0.7570, 0.7510, 0.7435, 0.7290.

Resistance levels: 0.7750, 0.7850, 0.7980, 0.8000, 0.8160.

Trading recommendations

Sell Stop 0.7690. Stop-Loss 0.7765. Take-Profit 0.7675, 0.7651, 0.7570, 0.7510, 0.7435, 0.7290.

Buy Stop 0.7765. Stop-Loss 0.7690. Take-Profit 0.7800, 0.7850, 0.7980, 0.8000, 0.8160.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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