AUDUSD analysis for 06.07.2017

AUDUSD is chiefly under the influence of some economic data such as Balance of Trade in Australia and ADP Employment Change in the US. The support rests at 0.75730 with resistance at 0.76230 which both lines are below the weekly pivot point at 0.76530. The EMA of 10 is moving with bearish bias and it has reached the EMA of 100 which both are above 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 the Chinkou Span. The Tenkan-sen is showing a horizontal trend while the Kijun-sen is showing a downward trend. The resistance level breakout will smooth the way for further growth targeting 0.77. https://fxglory.com/11036/