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Australian dollar continues to consolidate

 Tatyana Norkina, analyst at company FBS

The currency pair AUD / USD continues to consolidate under the 74th figure. Another attempt for corrective recovery undertaken by the bulls, two days ago, failed completely. The main obstacle to buying was the lower limit of the four-hour Ichimoku cloud, which bounced off and the pair was once again in the negative zone, below all the lines of the Indicator. Golden Cross, formed by the Tenkan and Kijun lines, in this case, is unlikely to help improve market situation, as the price hovers over a fairly wide range of cloud. But the bears are likely to become more active, as in the daily timeframe pair looks strongly oversold. 

Technical levels: support - 0.7350; Resistance - 0.7380, 0.7400.

Trading recommendations: off the market.

AUD
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