AUDUSD analysis for 05.11.2018
There are no major economic reports in Australia but the US will release ISM Non-Manufacturing PMI.
The support rests at 0.71810 with resistance at 0.72190 which both lines are above the weekly pivot point at 0.71690. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving above the 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 0.724.