AUDUSD: weekly review (13/02)
Tatiana Norkina, FBS analyst
Australian went down to recent lows at 0.7640 area last week again. However, the buyers who continue to hold this level worked distinctly here. This was followed by growth to the 78th figure, which preserved the market outset: all Ichimoku lines are directed sideways.
Oscillators have grown up within the last few days but the main downtrend is still relevant.
Graph. Daily AUDUSD
H4. The pair went into negative area on the 4-hour timeframe under the influence of the dead cross which was formed by Tenkan and Kijun lines. However, the bulls returned the course of the currency pair to the lower border of the Ichimoku cloud at the end of the week, breaking the resistance of Tenkan-Sen and Kijun-sen.
Obviously, there may be a very interesting fight in the range of 0.7740-0.7790 in the nearest future. Breakdown of the lower border will make market downtrend continue. Well, if the upper limit doesn’t withstand, we’ll wait for recovery to Senkou Span B - 0.7940.
Graph. H4 AUDUSD