AUDUSD analysis for 30.09.2016

AUDUSD is chiefly under the influence of Yellen’s speech and the OPEC agreement on oil. The support rests in 0.75990 with resistance at 0.76560 which both lines are above the weekly pivot point at 0.75840. The EMA of 10 is moving with bearish bias along the descendant channel and it is located above the EMA of 100. The RSI is moving below the 50 level, the MACD indicator is positive territory heading down and the Stochastic is moving horizontally in its low ranges. Despite the pair’s bearish pattern, the reversal pattern will start soon targeting 0.7700.

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