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 difficult to stop

 Tatiana Norkina, FBS analyst

According to our expectations, the bears have continued pressuring in the recent days, lowering the currency pair rate to the 76th figure area. A new low for the past three weeks has beed set around 0.7570, just above the extrema of four weeks ago. A break through these levels is obvious to be crucial for the Australian.

Indeed, the bears further advance is yet being constrained by the pair's oversoldness. But the four-hour Ichimoku indicator is set quite seriously. Thus, the dead cross formed by the Tenkan-Sen and Kijun-sen lines is still active. Ichimoku cloud has quite expanded downwards, turning the bearish trend around.

Therefore, folloiwng a small consolidation at the current levels, we will expect new lows - 0.7300.

Technical levels: support – 0.7600, 0.7560; resistance – 0.7615, 0.7650.

Trade recommendations:

1. Sell — 0.7650; SL — 0.7670; TP1 — 0.7600; TP2 — 0.7560.


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