Technical Analysis 13.02.2019

AUDUSD

The pair is trading below 0.7145. It’s supported by the rumors indicating an interim agreement has been reached in the US-China trade talks. If the positive sentiment remains, the pair’s local growth is expected to continue. In the opposite scenario, it may reverse downwards.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% but indicates a slower growth of the price. Stoch aren’t informative and are in the overbought territory.

Trading analysis:

If the pair doesn’t go above 0.7145, it may reverse and drop to 0.7080.