AUDUSD analysis for 19.01.2017

AUD is being empowered by the oil prices and labor market data against its American counterpart. The support rests in 0.74940 with resistance at 0.75400 which both lines are above the weekly pivot point at 0.74340. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 100 and the EMA of 200. The RSI is rising towards the overbought area, the MACD indicator is in the positive territory, heading down, and the Stochastic is showing upward momentum, showing downward momentum. The ADX is showing a weak buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The pair will rise towards the 0.7550 level but then will start its bearish trend.

https://fxglory.com/audusd-analysis-for-19-01-2017/