analysis

AUDUSD analysis for 09.11.2018

Australia has published RBA Statement on Monetary Policy and Home Loans and the US will publish Michigan economic data.
The support rests at 0.72220 with resistance at 0.72700 which both lines are above the weekly pivot point at 0.71690. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving on 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 weak sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.

The support level breakthrough will push the pair down towards 0.71, otherwise AUDUSD will continue its growth towards 0.73.

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Source: fxglory