Australia’s Westpac Leading Index grew and Retail Sales came less than expected. The US Crude Oil Inventories will be released today.
The support rests at 0.70970 with resistance at 0.71600 which both lines are above the weekly pivot point at 0.69850. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and 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 moving in high ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 0.7231.