AUDUSD analysis for 16.01.2017

While Producer Price Index supported USD, negative Retail Sales report weakened this currency against its Australian counterpart. The support rests in 0.74310 with resistance at 0.75090 which both lines are above the monthly pivot point at 0.72950. The EMA of 10 is moving with bearish bias and it is located above the EMA of 100 and the EMA of 200. The RSI is falling towards the 50 level, the MACD indicator is in the positive territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The pair will probably fall down towards the 38.2 level of Fibonacci retracement around 0.74 area.


https://fxglory.com/audusd-analysis-for-16-01-2017/