AUDUSD is chiefly under the influence of the oil price. The support rests in 0.74860 with resistance at 0.75580 which both lines are below the weekly pivot point at 0.76090. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100. The RSI is moving below the 50 level, the MACD indicator is in negative territory and the Stochastic is moving horizontally in its low ranges. Long positions are recommended with the target at 0.7500.
AUDUSD analysis for 13.10.2016
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