Aussie reaching out to highs
Tatiana Norkina, FBS analyst
The Australian currency remains strong against the US dollar. Yesterday, the pair formed a new high for the past four months, having recovered by more than 150 pips, to the 81st figure area. The growth continued this morning as well, at the Asian session - the pair tested the 0.8160 mark.
The four-hour Ichimoku indicator is now fully bullish: the growing Ichimoku cloud, the golden cross, as well as all lines directed upwards suggest that the upward trend is to continue in the near future.
However, we should pay attention to the Chinkou line that is indicating the market overboughtness. Short-term corrective movements are possible.
Technical levels: support – 0.8100, 0.8060; resistance – 0.8180.
1. Buy — 0.8060/70; SL — 0.8040; TP1 — 0.8130; TP2 — 0.8170/80.