AUDUSD analysis for 24.08.2016

AUDUSD is continuing its downward trend from yesterday. The pair is finding support at 0.76030 with resistance at 0.76210 which both lines are below the weekly pivot point at 0.76580. The EMA of 10 is moving close to the EMA of 100. The RSI is below the 50 level and the MACD indicator is in negative territory showing the price decline; moreover the Stochastic is indicating price fall but it has reached its minimum rate. The support level breakthrough will pave the way for further decline targeting 0.75 area.

https://fxglory.com/audusd-analysis-for-24-08-2016/