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Daily Market Analysis 01|07|2020: AUDUSD

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Daily Analysis / Online Education

Daily Market Analysis 01|07|2020: AUDUSD

Instrument: AUDUSD

Intraday: Bullish

Technical Analysis

Preference: 
Buy if price trades above 0.69097 with take profit at 0.69518.
Alternative scenario: 
Sell position is envisaged if price trades below 0.68825 with take profit at 0.68511.
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change

Comment: This instrument bounced off a support and has seen strong bullish momentum which is expected to continue if the resistance on the 1Hr timeframe is broken.

Analysis: SCRUM Team

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