Balance of Trade, Export and Import MoM have been published in Australia and the US will release Trade Balance and NFIB Small Business Index.
The support rests at 0.71050 with resistance at 0.71590 which both lines are above the weekly pivot point at 0.70030. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is moving in overbought area, the MACD line is above the signal line in the positive territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend.
The indicators are showing mixed signals. The resistance level breakout might push the price higher towards 0.72; otherwise, AUDUSD may drop to 0.7105.
