AUDUSD is under the influence of economic data in China and the Australian Financial markets which were closed for a public holiday on Monday. After the previous high at 0.75030, AUDUSD has been moving with bearish bias. The support rests at 0.73740 with resistance at 0.74120 which both lines are above the monthly pivot point at 0.73650. The EMA of 10 is above the EMA of 75 suggesting the recent price movement in higher ranges. The RSI is below the 50 level, the MACD indicator is in neutral zone and the Stochastic is showing downward momentum. Short positions are recommended with the target at 0.73250.
AUDUSD analysis for 14.06.2016
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