AUDUSD analysis for 05.02.2018
Australia has released TD-MI Inflation Gauge MoM and ANZ Job Advertisements MoM and the US will publish ISM Non-Manufacturing PMI.
The support rests at 0.79080 with resistance at 0.79520 which both lines are below the weekly pivot point at 0.79840. The EMA of 10 is moving with bearish bias in the descendant channel but it is above the EMA of 200 and below the EMA of 100. The RSI is moving in the oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 0.7892.