Aussie held above cloud
Tatiana Norkina, FBS analyst
The AUD/USD currency pair has been trying desperately to consolidate above the four-hour Ichimoku cloud in the recent days. The main support was at the 0.7320 level, which the bulls had been firmly holding since Tuesday.
Given the generally positive Ichimoku indicator, a break trhough the Tenkan and Kijun lines resistance in the 0.7360 area might inspire buyers that would choose the short-term level of 0.7450 as their goal. However, currently the Tenkan and Kijun lines are quite firmly keeping the dead cross relevant. Therefore, purchases will be possible only after the prices fix above the Kijun line.
Technical levels: support – 0.7330/40 resistance – 0.7380, 0.7400, 0.7415, 0.7440.
1. Buy — 0.7350; SL — 0.7330; TP1 — 0.7400; TP2 — 0.7440.