AUDUSD analysis for 05.04.2017

AUD is acting weak against its American counterpart due to weak labor and inflation data. The support rests in 0.75460 with resistance at 0.75880 which both lines are below the weekly pivot point at 0.76310. The EMA of 10 is moving with bearish bias and it is located below 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 upward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing a downward trend and the Kijun-sen is showing a horizontal trend. The resistance level breakout is a good sign for buyers to target 0.7750 otherwise AUDUSD will drop to 0.7500. https://fxglory.com/audusd-analysis-for-05-04-2017/