NAB Business Confidence, Home Loans MoM and Investment Lending for Homes have been published in Australia and the US will release Inflation Rate data.
The support rests at 0.70620 with resistance at 0.70900 which both lines are above the weekly pivot point at 0.70530. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing weak buy signal. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing a horizontal trend while the Kijun-sen is showing a downward trend.
Long positions are recommended towards 0.71000.
