NAB Business Confidence has been published in Australia and Westpac Consumer Confidence data will be released late today.
The support rests at 0.70580 with resistance at 0.70960 which both lines are below the weekly pivot point at 0.71100. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards the oversold area, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 0.70.