FxGrow Daily Technical Analysis – 05th July, 2016
By FxGrow Research & Analysis Team
AUDUSD was bullish yesterday as it crossed 0.7500 handle and remained firm towards the end of the trading session. Today Aussie is trading in a zigzag pattern with no clear direction. The pair is trading above its 100 day SMA of 0.7475 in the European trading session. The near term bias is Bearish with targets of 0.7450
RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.
Support is at 0.7472 while Resistance is at 0.7548
05th July 2016 – 09:24hrs GMT
USDJPY is trading in a bearish momentum today exposing further weakness in the coming days. The pair broke its support level of 102 to touch a low of 101.65; and is trading below its 100 day SMA of 102.64 in the European trading session. The near term bias is Bearish with targets of 101
STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator indicate a SELL; RSI (14), STOCHRSI (14) are Oversold; while Average True Range (14) indicates High Volatility.
Support is at 101.65 while Resistance is at 102.35
05th July 2016 – 09:32hrs GMT
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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.