AUDUSD analysis for 06.02.2017

AUD was weakened due to Poor Chinese PMI, on the other hand, the US treasury bond yields supported USD. The support rests in 0.76440 with resistance at 0.76830 which both lines are above the weekly pivot point at 0.76340. 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 falling towards the 50 level, the MACD indicator is in positive territory and the Stochastic is showing downward momentum. The ADX is showing a buy signal. The price is above the Ichimoku Cloud and below Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The resistance level breakout may lead the price towards 0.7700 however it will start its bearish trend targeting 0.7550. https://fxglory.com/audusd-analysis-for-06-02-2017/