AUDUSD analysis for 01.06.2017

Australia is releasing Retail Sales MoM and Private Capital Expenditure QoQ along with the US publishing ADP Employment Change and ISM Manufacturing PMI therefore this pair is going to be more volatile. The support rests in 0.73710 with resistance at 0.74410 which both lines are below the weekly pivot point at 0.74600. 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 downward trend. As long as the price stays below 0.75 area, bearish trend is expected targeting 0.735. https://fxglory.com/audusd-analysis-for-01-06-2017/