Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

AUD/USD: consolidation continues

 Tatiana Norkina, FBS analyst

The currency pair yet fails to get out of the outset. The beginning of the week turned out not quite successful for the bulls as they were stopped by the four-hour cloud on the way. On the contrary, the bears have immediately set out an attack, using the cloud lower border as a starting point for new sales. However, they have met a strong support in the 0.7750 area which, in its turn, was used by the buyers today who returned the prices into the positive zone.

The cloud remains bullish, but it should be noted that the 0.7830 area will be marked by resistance of the horizontal line Kijun-sen. The break through this level in the near future may put an end to the long-term outset. If there is no breakthrough, we will witness resumption of the daily downtrend.

Technical levels: support – 0.7800; resistance – 0.7830.

Trade recommendations:

1. Buy — 0.7850; SL — 0.7820; TP1 — 0.7900; TP2 — 0.7930;

2. Sell — 0.7800; SL — 0.7820; TP1 — 0.7730; TP2 — 0.7670.

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