Aussie - pressure remains
Tatiana Norkina, FBS analyst
As expected, the AUD/USD currency pair remained under the four-hour Tenkan-Sen and Kijun-Sen lines. Having bounced off the Tenkan-Kijun channel upper border, the bears resumed sales that made the prices slide to the 0.7060 mark. Here, the pair has found a temporary support, but the bearish sentiment is still prevailing in the market. Thus, the dead cross is active and the Ichimoku cloud is negative. At the same time, the pair's strong oversoldness is palpable - Chinkou Span is in the corresponding area. Therefore, consolidation is likely to continue in the near future.
Technical levels: support – 0.7060 resistance – 0.7120.
Trade recommendations: out of market.