FxGrow Daily Technical Analysis – 07th July, 2016
By FxGrow Research & Analysis Team
AUDUSD was indecisive yesterday as it touched a low of 0.7407 and a high of 0.7516 towards the end of the trading session. Today Aussie is trading above its 100 day SMA of 0.7492 in the European trading session. The near term bias is Bullish with targets of 0.7580
RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), ROC indicate a BUY; while Average True Range (14) indicates High Volatility.
Support is at 0.7475 while Resistance is at 0.7525
07th July 2016 – 08:50hrs GMT
USDJPY was indecisive yesterday as it touched a low of 100.19 and a high of 101.74 as trading sentiment remains mixed. The pair broke its support level of 101 and as such further downside risks are present as it is trading below its 100day SMA of 101.86 in the European trading session. The near term bias is Neutral to Bearish with targets of 100.50
RSI (14), CCI (14) are Neutral; STOCH (9, 6), MACD (12, 26), ROC indicate a SELL; RSI (14), STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 101.19 while Resistance is at 101.46
07th July 2016 – 09:00hrs GMT
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