Technical Analysis 04.02.2019

AUDUSD

The pair is trading above 0.7225. It’s still under pressure due to the lack of a US-China trade deal. Donald Trump has postponed the final decision until the meeting with Xi Jinping later this month.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI has stopped falling and is above the 50% level now. Stoch indicate a slower decline.

Trading recommendations:

If the pair crosses 0.7225, it may drop to 0.7175.