AUDUSD analysis for 11.05.2017

AUD is under pressure due to the Gold market. The support rests in 0.73360 with resistance at 0.73740 which both lines are below the weekly pivot point at 0.74450. 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 rising towards the 50 level, the MACD indicator is in negative territory and the Stochastic is moving in low ranges. 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. Long positions are recommended targeting 0.75 area. https://fxglory.com/audusd-analysis-for-11-05-2017/