Technical Analysis 12.04.2019

AUDUSD

The pair corrected to 0.7125 following the release of the strong industrial inflation data in the US, but it still may reverse upwards and resume growth, since the Fed isn’t expected to change its plans to passively observe the market situation in the foreseeable future.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is reversing downwards. Stoch have left the oversold territory and indicate an upwards reversal of the price.

Trading recommendations:

Buy the pair as it’s likely to grow to 0.7175.