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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.

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.

Trade recommendations:

1. Sell — 0.7720; SL — 0.7740; TP1 — 0.7620; TP2 — 0.7600.

AUD
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