Technical analysis 03.10.18

AUDUSD

The pair is consolidating below 0.7200 as the ADP data for the previous month is expected to be released in the US, while the services business activity index is also to be published. If the data is favorable, the pair will be likely to resume its local fall.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above the oversold zone and is moving horizontally. Stocha are slowly reversing upwards.

Trading recommendations:

If the pair drops below 0.7165, it may go further down to 0.7130 or even to 0.7100.