Aussie stuck under cloud
Tatiana Norkina, FBS analyst
As expected, the AUD/USD currency pair remains under the four-hour Ichimoku cloud. The prices going below Senkou Span A has significantly weakened the bulls' positions that are trying to continue the attack this week, but the resistance of all Ichimoku indicator lines does not give them such an opportunity.
Recently, the Tenkan and Kijun lines have formed a fairly powerful dead cross and the cloud has narrowed to a maximum, threatening to change the major trend to downward. In case the pair consolidates below the cloud during today's session, long-term bears can step up their game. Therefore, short positions will be relevant in the near future.
Technical levels: support – 0.7670, 0.7600; resistance – 0.7745.
1. Sell — 0.7730; SL — 0.7750; TP1 — 0.7670; TP2 — 0.7600.