AUDUSD analysis for 26.04.2017

AUD is under pressure due to the Trump’s decision regarding dairy products, housing industry and labor markets. The support rests at 0.74800 with resistance at 0.75450 which both lines are below the weekly pivot point at 0.75480. The EMA of 10 is moving with bearish bias along the descendant channel and it is located below the EMA of 100 and the EMA of 200. The RSI is falling towards the oversold, the MACD indicator is in neutral territory and the Stochastic is moving in low ranges. The ADX is showing sell signals. The price is below the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend. Short positions are recommended targeting 0.7450. https://fxglory.com/audusd-analysis-for-26-04-2017/