Australian dollar is under pressure due to trade war concerns and lower crude oil prices.
The support rests at 0.74010 with resistance at 0.74390 the weekly pivot point at 0.76120 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving on the 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is showing downward momentum. The ADX is showing weak buy signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 0.734.

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