Technical analysis 13.09.18

AUDUSD

The pair is trading below the level of 0.7200 following a local growth caused by the expectations of the US-China talks to be favorable. We do not think it likely, while the Reserve Bank of Australia will not raise the interest rates this year due to this uncertainty, which will probably push the pair downwards again.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is indicating weaker growth. Stoch are in the overbought zone and are reversing downwards.

Trading recommendations:

The pair’s inability to grow above the mark of 0.7200 may lead to its reversing downwards and falling below 0.7100.