Aussie is correcting
Tatiana Norkina, FBS analyst
The AUD/USD currency pair seems to have found support in the 69th figure area. Friday's update of lows, accompanied by this level testing, made Chinkou Span move to the zone of oversoldness. Obviously, this is why we are witnessing the pair's recovery into the Tenkan-sen line area this morning. If the bulls manage to break through the 0.6960 resistance, the growth can be prolonged up until the Kijun-sen level, to the 0.6980 mark.
The general mood in the market still remains bearish: the dead cross and the downward expanding cloud are likely to gather new buyers to move to the 68th figure.
Technical levels: support – 0.6800, 0.6900; resistance – 0.6980.
1. Sell — 0.6980; SL — 0.7000; TP1 — 0.6900; TP2 — 0.6850.