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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 trading within cloud

 Tatiana Norkina, FBS analyst

The Australian dollar was recovering to the four-hour Ichimoku cloud earlier this week. The bulls have partly managed to break through the lower border resistance but failed to remain in the ​​78th figure area: this morning, the bears have emerged in the market, returning the prices to the 77th figure and currently not easing the pressure.

Today, support will be provided by the horizontal Kijun-sen line. Senkou Span A is also located here, reinforcing the level.

Therefore, in case of the support break, we will expect the downtrend resumption. Otherwise, the bulls might as well lift the market up to the cloud's upper border levels.

Technical levels: support – 0.7700; resistance – 0.7800.

Trade recommendations:

1. Buy — 0.7700; SL — 0.7680; TP1 — 0.7800; TP2 — 0.7880.

2. Sell — 0.7680; SL — 0.7700; TP1 — 0.7600; TP2 — 0.7550.

AUD
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