Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

Aussie at crossroads

 Tatiana Norkina, FBS analyst

The AUD/USD currency pair remains inside the four-hour Ichimoku cloud after the bulls failed to restore the market to the upper border level. Yesterday's trading began rather shaky, with the consolidation above the rising Tenkan-sen line. However, even the golden cross formed by the Tenkan and Kijun lines could not help the bulls gain confidence. Therefore, the break down through the Tenkan-sen support triggered additional sales of the pair and the prices lowering to Kijun-sen. The line is currently providing support in the 0.6940 area. Let us note that this level can become critical: a break down would mean the consolidation conclusion and the major trend continuation; or if the level withstands, short-term bulls might return to the market and restore the currency pair rate to Senkou Span B.

Technical levels: support –  0.6900, 0.6940; resistance – 0.6990.

Trade recommendations:

1. Sell — 0.6970; SL — 0.6990; TP1 — 0.6830; TP2 — 0.6800.

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