No sign of a trendreversal yet
There will be RBA Governor Philip Lowe talk in Australia and the US will publish Consumer Confidence. Meanwhile on the chart the price is on a descending rally. no indicator or oscillator is showing any trend reversal signal yet and the overall look of the chart is bearish.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 0.67440 with resistance at 0.68070 which the weekly pivot point at 0.68030 is located in between the lines. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in middle ranges. The ADX is showing buy signal. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a downward trend.
AUDUSD may fall towards 0.6735.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.