Technical analysis 15.10.18

AUDUSD

The pair is trading above 0.7100. The Australian currency is still a hostage of the US-China trade war, which will remain a source of pressure for the pair. That’s why we don’t expect any significant growth and recommend selling the pair at its growth.

The price is above the middle Bollinger band, below SMA 5 and SMA 14. RSI is indicating the absence of any definite trend. Stoch aren’t informative.

Trading recommendations:

Sell the pair at its probably growth from 0.7140 or its drop below 0.7100 with possible targets of 0.7100 and 0.7040 respectively.