AUD/USD: technical analysis 15 January 2021, 11:45

 

AUD/USD: technical analysis

15 January 2021, 11:45

Scenario
Timeframe	Intraday
Recommendation	BUY STOP
Entry Point	0.7770
Take Profit	0.7820
Stop Loss	0.7740
Key Levels	0.7600, 0.7640, 0.7670, 0.7700, 0.7730, 0.7760, 0.7790, 0.7820

Alternative scenario
Recommendation	SELL STOP
Entry Point	0.7720
Take Profit	0.7670
Stop Loss	0.7750
Key Levels	0.7600, 0.7640, 0.7670, 0.7700, 0.7730, 0.7760, 0.7790, 0.7820

AUD/USD, H4

On the H4 chart, a lateral trend is forming. The instrument corrected to the center line of Bollinger Bands; the indicator cloud is narrowed and it is likely that lateral trend will persist in the short term. MACD histogram is in the positive area, its volumes are minimal; the signal line is directed horizontally without forming a clear signal to enter the market. Stochastic is in the neutral zone and the oscillator lines have reversed downwards from the border with the overbought zone, the sell signal is forming.

AUD/USD, D1

D1 chart shows the correction of upward movement. The instrument is trading between the upper and center lines of Bollinger Bands; the indicator cloud is expanded; the uptrend is likely to persist in the medium term. MACD histogram is in the positive zone preserving stable volumes and a steady signal for opening long positions. Stochastic is in the neutral area; the signal line is directed horizontally, without forming a definite signal to enter the market.

Key levels

Resistance levels: 0.7760, 0.7790, 0.7820.

Support levels: 0.7730, 0.7700, 0.7670, 0.7640, 0.7600.

Trading tips

Long positions may be opened from the level of 0.7770 with target at 0.7820 and stop-loss at 0.7740. Implementation time: 1-3 days.

Short positions may be opened from the level of 0.7720 with target at 0.7670. Stop-loss – 0.7750.