AUD/USD: Aussie keeps losing ground
AUD / USD slumped to the local low again during yesterday's trading. The pair is edging towards last three month lows, and is already checking the 72nd figure for strength.
The bearish tendency appeared on the four-hour time frame again. After the pair’s correction to the Ichimoku’s lower limit (from 0.7360 / 70), new traders have joined as expected, and led the market under the support of Tenkan and Kijun lines. The lines themselves formed a new dead cross setting up the traders on the downtrend. The Ichimoku cloud keeps the trend as well – Senkou Span A and Senkou Span B lines are directed downwards.
Accordingly, a stronger support of 0.7100 for the pair will be possible with the 72nd figure be passed.
Technical levels: support – 0.7200, 0.7100; resistance – 0.7250 / 80.
1. Sell – 0.7240; SL - 0.7260; TP1 – 0.7130; TP2 – 0.7100.