AUD gained momentum due to the commodity prices and upbeat Services PMI in China. The support rests in 0.74320 with resistance at 0.74720 which the weekly pivot point at 0.74420 is located in between the lines. The EMA of 10 is moving with bullish bias and it is located below the EMA of 100 and the EMA of 200. The RSI is moving on the 50 area, the MACD indicator is moving in neutral zone and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. Short positions are recommended targeting 0.7400 area.
AUDUSD analysis for 06.12.2016
Comments are closed.