AUD/USD: bears' determination does not run low
During the yesterday's trading session the currency pair AUD/USD has approached its recent minimum of 0.7180 again. So far it is obvious that the 72nd figure constrains the long-term sellers from starting a new round of sales, but panic in the market is obviously felt and, in case it starts to develop, we will be able to see the pair one figure lower. On a day timeframe there is strong level in the area of the 71st figure. Therefore, sales can be continued up to this mark.
Four-hour timeframes are favorably disposed to bears, supporting them by the dead cross created by Tenkan-sen and Kijun-sen lines, and also with the help of the descending Ichimoku cloud, that has a powerful range. For bulls with the best will in the world (if it appears) it will be difficult to develop the downtrend just like that.
Technical levels: support – 0.7180, 0.7100; resistance – 0.7220.
1. Sell — 0.7200; SL — 0.7220; TP1 — 0.7130; TP2 — 0.7100.