TradablePatterns
Long

AUDUSD FORMING TRADABLE BOTTOM POST-NFP, China CPI

FX:AUDUSD   Australian Dollar/U.S. Dollar
Now that the dust has settled post NFP, China CPI             , the AUDUSD             is ready to bounce after heavy selling over the last week. Daily RSI and Stochastics are both sloping up now, with Stochastics rising from an oversold level. The daily MACD blue line is trying to bottom, with the MACD histogram becoming less negative. AUDUSD             is now just sitting in a minor resistance (previous support) zone, as indicated by the horizontal line I've drawn intersecting the current candle. This resistance area will likely give way quickly to the next key target between .875 and .88, where the AUDUSD             will likely bump into the downtrend resistance line. The monthly chart is still bearish , although the weekly chart has been showing bottoming efforts now for more than a month.

Feel free to visit http://stks.co/g1HFq for today's technical analysis on $CT_F, $USDJPY             , $EURUSD, $GBPUSD, $VIX_F, $ES_F, $NQ_F, $AUDUSD, $DX_F, $NG_F, $CL_F.

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