Aussie showing strength
Tatiana Norkina, FBS analyst
The AUD/USD currency pair remained above the 73rd figure. Yet another bears' attack on the support level turned out a failure which triggered a skyrocket shot early today. As a result of the bulls' active buying, the currency pair rate soared deep into the four-hour Ichimoku cloud, to the 0.7350 mark, breaking the Tenkan-Sen, Kijun-sen and Senkou Span A lines resistance. This could mean a short-term reversal of the downtrend for a correctional recovery purposes. However, we already see a powerful resistance at the current levels that might not let the bulls to the cloud's upper border.
Technical levels: support – 0.7260, 0.7300; resistance – 0.7350.
1. Buy — 0.7310; SL — 0.7290; TP1 — 0.7350; TP2 — 0.7380.