Norkina : Australian drops in early trading
Tatyana Norkina – analytic for company FBS
Trading currency pair AUD / USD this morning began with a decline in prices. Bears stepped up the pressure after the bulls failed to overcome the resistance just below the 74th figure. Market gradually decreases along the top of a four-hour Ichimoku cloud to 0.7340 , where it is provided support by the Kijun-sen line.
Let’s note, however, that the situation on the market remains positive. Golden Cross and the growing cloud of Ichimoku may attract the interest of long-term players. Also, let us not exclude the possibility of testing the upper boundary of the cloud support in the area of 0.7330.
Technical levels: support - 0.7330 ; Resistance - 0.7380 , 0.7400 , 0.7415 , 0.7440.
Trading recommendations: 1. Buy - 0.7330; SL - 0.7310; TP1 - 0.7380; TP2 - 0.7400.