Aussie updating lows
Tatiana Norkina, FBS analyst
The AUD/USD currency pair found support in the 0.7460/70 area yesterday, after the bearish rally at the end of the previous week.
The four-hour downtrend is still in force. The dead cross, lively supported by the Tenkan and Kijun lines, as well as the expanding downwards Ichimoku cloud, give groud to suggest that the bears have targeted the daily level within the 73rd figure area.
At the same time, the Chinkou Span line located in the zone of oversoldness may cause the pair to consolidate at the current levels in the next few days.
Technical levels: support – 0.7470, 0.7300; resistance – 0.7500, 0.7530.
1. Sell — 0.7500; SL — 0.7530; TP1 — 0.7400; TP2 — 0.7300.