AUDUSD analysis for 06.12.2017

Australia has published GDP Growth Rate QoQ and YoY and the US will release ADP Employment Change and EIA Crude Oil Stocks Change. The support rests at 0.75660 with resistance at 0.76000 which both lines are below the monthly pivot point at 0.76090. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 100 and below the EMA of 200. The RSI is rising towards the 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. 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. The resistance line is too strong to be broken therefore short positions are recommended towards 0.75. https://fxglory.com/audusd-analysis-for-06-12-2017/