AUDUSD analysis for 22.02.2017

AUD is weak against its strong American counterpart. The support rests in 0.76830 with resistance at 0.77010 which both lines are above the weekly pivot point at 0.76710. 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 neutral territory and the Stochastic is showing upward momentum. The ADX is showing a buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a horizontal trend while the Kijun-sen is showing a downward trend. It seems that 0.77 is a strong resistance zone to be broken therefore short positions are recommended. https://fxglory.com/audusd-analysis-for-22-02-2017/