AUDUSD analysis for 05.01.2018

Australia has published Balance of Trade, Imports and Export MoM and the US will release Unemployment Rate, Balance of Trade and ISM Non-Manufacturing PMI. The support rests at 0.78240 with resistance at 0.78650 which both lines are above the weekly pivot point at 0.77800. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving above the 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend. The resistance level breakout will smooth the way for further growth towards 0.8 otherwise it will drop to 0.77. https://fxglory.com/audusd-analysis-for-05-01-2018/