AUDUSD analysis for 07.12.2021
On Tuesday morning, the RBA chose to keep its benchmark interest rate at 0.1 percent and continue its bond-buying levels, which sent the Australian and New Zealand Dollars higher. Though some economists suggested that the authorities might follow their American counterpart in announcing an earlier end to stimulus, the choice was in line with expectations.
The support rests at 0.72630 with resistance at 0.70970 which the Pivot Point at 0.70700 is located below the price line. The EMA of 10 is moving in a bearish bias and it is below the EMA of 200 and EMA of 100. The RSI is going toward the level of 70, the MACD histogram is in positive territory with the signals showing an upward momentum. The Stochastic is the high ranges and the ADX is showing an uptrend.
The price is inside the Ichimoku Cloud and the Chinkou Span is far away the market price. The Tenkan-sen and the Kijun-sen are both showing a downtrend.
• There is resistance at 0.70970, followed by resistance at 0.71120 and 0.71390.
• There is support at 0.70550 Below, there is 0.70280 and 0.70130.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.