06, September 2016

AUD/USD (a 4-hour chart)

General overview

The AUD grew on the back of strong Company Gross Operating Profits report.

Current situation

The AUD/USD grew at the open on Monday. Buyers led the price to the level 0.7600 where the pair turned around and slightly decreased. The instrument tested the 100-EMA and remained above the line. The moving averages are neutral in the 4 hours chart. The resistance is at 0.7600, the support comes in at 0.7540.

MACD indicator is close to the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD remains in the positive area buyers will keep control over the market. RSI bounced from the overbought area.

Trading recommendations

If the AUD/USD remains below 0.7600 the price may fall to 0.7540. Controversially, the instrument will grow to 0.7600.