Bearish trend on Aussie in full force
Tatiana Norkina, FBS analyst
The AUD/USD currecny pair was correcting to the four-hour Tenkan-sen line, into the 0.7060 area, during yesterday's trading session. But then the bulls got exhausted and, despite quite an oversoldness of the pair, the bears are active in the market again this morning. They have tested the 70th figure, once again turning all Ichimoku indicator lines downwards. To date, the dead cross is active, Tenkan-sen and Kijun-sen are directed downwards, the Ichimoku cloud is also expanding in the downward direction. Therefore, let us expect continuation of the downtrend in the near future.
Technical levels: support – 0.6980; resistance – 0.7030.
1. Sell — 0.7020/30; SL — 0.7050; TP1 — 0.6980; TP2 — 0.6950.