AUDUSD analysis for 04.07.2016

The AUD rose a little bit after the Friday trades however the USD is stable at the moment. AUDUSD is moving with bullish bias above the weekly pivot point. The support rests at 0.74580 with resistance at 0.75330 which both lines are above the weekly pivot point at 0.74410. The EMA of 10 is rising and has already passed the EMA of 75. The RSI is in overbought area and the MACD indicator is in positive territory while the Stochastic is showing downward momentum. 0.753 area appears to be a strong resistance zone for this pair, the reversal is about to happen targeting 0.7400.

https://fxglory.com/audusd-analysis-for-04-07-2016/