AUDUSD analysis for 02.03.2017

AUD was supported by Australian upbeat GDP and Solid China PMI data. The support rests in 0.76390 with resistance at 0.76750 which both lines are below the weekly pivot point at 0.76860. The EMA of 10 is moving with bearish bias along the descendant channel but it is located above the EMA of 100 and the EMA of 200. The RSI is rising towards the 50 level, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The 0.7650 breakthrough will be a good sign for sellers to target further decline to 0.76. https://fxglory.com/audusd-analysis-for-02-03-2017/