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: bears pressing

 Tatiana Norkina, FBS analyst

The Australian dollar keeps losing ground to the American. Yesterday, the currency pair rate was falling below the 76th figure, forming a new low for the past six years in the 0.7560 area. Obviously, the bears are pretty serious and the trend will continue in the near future.

Ichimoku indicator is entirely on the sellers' side: with an active dead cross on the backgroud, the Ichimoku cloud is extending downwards. However, the Chinkou Span line is currently in the zone of oversoldness. Thus, considering the strong support at the current levels, it is safe to assume that the bulls might try to correct the currency pair rate into the Tenkan-Kijun channel. Then, the downtrend is likely to resume.

Technical levels: support – 0.7550/60, 0.7510; resistance – 0.7620, 0.7660.

Trade recommendations:

1. Sell — 0.7660; SL — 0.7680; TP1 — 0.7550; TP2 — 0.7510.

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