Aussie holding above 0.7400
Tatiana Norkina, FBS analyst
Despite the increased pressure by the bears, the AUD/USD currency pair keeps holding above the 74th figure. Yesterday, the bears once again attempted to break the level downwards, but the support remains ungiving.
In general, the four-hour Ichimoku indicator indicates a bearish sentiment in the market. However, the Tenkan and Kijun lines have not yet determined the short-term trend: there is nothing to replace the cancelled golden cross with. Therefore, we do not rule out a possibility of the pair recovering into the cloud's lower border area - 0.7440 - today, then the major downtrend may be resumed.
Technical levels: support – 0.7400; сопротивление – 0.7440.
1. Sell — 0.7440; SL — 0.7460; TP1 — 0.7370; TP2 — 0.7310.