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AUD/USD is adjusting to the Cloud

 Tatyana Norkina, analytic for company FBS 

Yesterday the Australian dollar updated the annual maximum again. In the Asian session the currency pair AUD / USD rose to the level of 0.7590. Right after it sales came next, due to the local overbought. At the end of the day rates have gone under the support of the four-hour Tenkan and Kijun and, in all appearances, we expect a correction in the direction of the upper limit of the Ichimoku cloud.

Note that the gold cross formed by Tenkan-sen and Kijun-sen is still active. The Ichimoku cloud also expands upwards. Therefore, at the end of correction we are waiting for the resumption of the uptrend.

Technical Levels: Support - 0.7440/60; resistance - 0.7530.

Trading recommendations:
1. Buy — 0.7450; SL — 0.7430; TP1 — 0.7530; TP2 — 0.7600.

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