21 July 2020

Reserve Bank of Australia Monetary Policy Meeting Minutes: Tuesday, 1:30. The RBA will release the minutes of last week’s policy meeting. The tone of the minutes could affect the movement of AUD/USD.

AUD
Reserve Bank of Australia Monetary Policy Meeting Minutes

  • EURUSD

The chart above shows that the pair is trading above a strong support level that is 1.1500. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.1630.

Resistance levels: Support levels: Recommended:
▪ 1.1630
▪ 1.1600
▪ 1.1590
▪ 1.1500
▪ 1.1480
▪ 1.1450
We are bullish as long as the pair is trading above the level of 1.1500.
  • GBPUSD

The chart above shows that the pair is trading above a strong support level that is 1.2650. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.2750 followed by 1.2800.

Resistance levels: Support levels: Recommended:
▪ 1.2800
▪ 1.2750
▪ 1.2725
▪ 1.2650
▪ 1.2620
▪ 1.2600
We are bullish as long as the pair is trading above 1.2650.
  • GOLD

As could be seen on the chart above that the pair is trading above the level of 1850. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1890 followed by 1905.

Resistance levels: Support levels: Recommended:
▪ 1910
▪ 1905
▪ 1890
▪ 1850
▪ 1830
▪ 1815
We are bullish as long as the pair is trading above the level of 1850.
  • AUDUSD

The chart above shows that the pair is trading in a very tight range between 0.7034 (resistance) and 0.6770 (Support). If the pair breaks through the level of 0.7034, it might continue going upwards to reach the level of 0.7150.

Resistance levels: Support levels: Recommended:
▪ 0.7150
▪ 0.7100
▪ 0.7034
▪ 0.6770
▪ 0.6740
▪ 0.6700
We are bearish as long as the pair is trading below the level of 0.7034.
  • GBPJPY

The chart above shows that the pair is trading below a strong resistance level that is 136.30. Therefore, we are bearish as long as the pair is trading below it. Our first target is 135.00 followed by 134.50.

Resistance levels: Support levels: Recommended:
▪ 137.00
▪ 136.50
▪ 136.30
▪ 135.30
▪ 135.00
▪ 134.50
We are bearish as long as the pair is trading below the level of 136.30

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