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FxWirePro: AUD/USD comatose around 55-EMA, markets cautious ahead of US ADP, FOMC minutes

Chart - Courtesy Trading View 

Technical Analysis: Bias Neutral

GMMA Indicator

- Major and minor trend are bullish on the daily charts

Ichimoku Analysis

- Price action is testing daily cloud resistance

- Break above will fuel further gains

Oscillators

- Stochs and RSI show momentum is bullish

- Stochs are on verge of bearish rollover from overbought levels

Bollinger Bands

- Bollinger bands are spread wide apart, suggest volatility is high

Major Support Levels: 0.7208 (21-EMA), 0.7192 (20-DMA)

Major Resistance Levels: 0.7237 (55-EMA), 0.73 (110-EMA)

Summary: Tepid risk appetite, cautious mood ahead of the key US data/events challenge momentum.

AUD/USD recovery after Monday's plunge has found resistance at 55-EMA and daily cloud. Breakout above will fuel further upside. Overbought oscillators may see some pullbacks. 
 

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