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    AUDUSD Technical Analysis 08.06.2016

    AUDUSD

    The pair is locally overbought and has all chances to correct downwards if the Chinese economic data turns out to be weak.

    The price is higher than the middle Bollinger band, lower than SMA5 but higher than SMA14. RSI resides in the overbought zone and is demonstrating downward potential with leaving the zone. Stoch are already leaving the overbought zone and signal to sell.

    Trading recommendations: If the price falls lower than 0.7440, a local fall down to 0.7370 will occur.


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