AUD/USD: downtrend may resume
Tatiana Norkina, FBS analyst
The currency pair continues to consolidate within a four-hour Ichimoku cloud. However, recently we can feel the bear pressure’s strengthening - prices have broken down support Tenkan and Kijun lines and have descended to the lower boundary of the cloud. Golden Cross, formed by lines lost relevance and maybe we will see the formation of a dead cross in case of breakdown and supporting Senkou Span A.
The cloud is configured on further expand in the downstream direction.
Oscillators are tuned to the same slide. The MACD histogram went under zero score.
Technical levels: support - 0.7730, 0.7760; resistance - 0.7800.
1. Sell - 0.7770 / 80; SL - 0.7800; TP1 - 0.7650; TP2 - 0.7600.