Aussie tumbling down
Tatiana Norkina, FBS analyst
The downtrend on AUD/USD is gaining momentum. Yesterday's trading ended in updating of the local lows, and the currency pair rate fell below the 77th figure. A weak recovery attempt at the end of the session was interrupted by the four-hour Tenkan-sen line.
This morning, the bears have continued the attack and again updated the extremes, lowering the pair's rate into the 0.7670 area.
Thus, the downtrend is still in force: all Ichimoku lines are directed downwards. However, sellers should be careful as there is a strong suppot at the current levels. Apart from that, Chinkou Span is in the zone of oversoldness.
Technical levels: suppot – 0.7690; resistance – 0.7720.
1. Sell — 0.7720; SL — 0.7740; TP1 — 0.7620; TP2 — 0.7600.