AUD/USD: the Australian giving in again
Tatiana Norkina, FBS analyst
As expected, the currency pair rate had been recovering wihtin correctional growth up to 0.8000. But immediately after the figure testing, the bears got back into the game, decreasing the prices to the lows of the beginning of the week, into the 0.7850 area. Thus, not only has the bearish trend survived, but also the sellers pressure increase is now possible.
Oscillators have turned downwards, together with the four-hour Ichimoku lines.
At the same time, one can observe the pair's oversoldness on a shorter timeframe. Therefore, further rate decline may resume after testing the 79th figure.
1. Sell — 0.7900; SL — 0.7920; TP1 — 0.7850; TP2 — 0.7810.