AUD/USD: bears keep pressuring
Tatiana Norkina, FBS analyst
The currency pair failed to hold above the 78th figure early this week. Under the bears' pressure, the pair's rate tumbled below the support level of Tenkan and Kijun, which triggered new trading sellers to join trades. As a result, prices left the cloud area and approached last week's lows - 0.7650.
Oscillators backed the fall, turning downwards.
Ichimoku indicator is bearish too: the cloud is expanding downwards. The dead cross is active.
Consequently, we can expect resumption of the downtrend in the near future.
Technical levels: support – 0.7650; resistance – 0.7700, 0.7740.
1. Sell — 0.7700; SL — 0.7720; TP1 — 0.7650; TP2 — 0.7600.