AUDUSD Technical Analysis 07.01.2016

AUDUSD

The pair remains inside a short term downside trend, which may continue if the employment data from the US is not worse than expected.

The price is lower than the lower Bollinger band, lower than SMA5 and SMA14. RSI resides above the oversold zone and falling. Stoch are also above the zone.

Trading recommendations:

Positive employment data from the US may push the pair down to 0.7490, and then to 0.7450.