AUDUSD analysis for 12.04.2019
RBA Financial Stability Review has been published in Australia and the US will release Export and Import Prices and Michigan Consumer Sentiment Prel.
The support rests at 0.71080 with resistance at 0.71520 which both lines are above the weekly pivot point at 0.70970. 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 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 sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
The resistance line seems to be too strong to be broken, sellers can target 0.71000.