AUDUSD analysis for 01.12.2016

AUD is acting weak against its American counterpart due to the Building Permits release. The support rests in 0.73780 with resistance at 0.74360 which the weekly pivot point at 0.74030 is located in between the lines. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100 and the EMA of 200. The RSI is moving below the 50 area, the MACD indicator is moving in neutral zone and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. Short positions are recommended targeting 0.7350.

https://fxglory.com/audusd-analysis-for-01-12-2016/