We prefer to go AUD/USD short
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.8643
Kijun-Sen level: 0.8677
Ichimoku cloud top: 0.8707
Ichimoku cloud bottom: 0.8667
AUD/USD made a low of 0.8565 and has recovered from that level. Overall trend is weak as long as 0.8700 holds. Any break above 0.8700 will target 0.8750/0.8805 in short term.
The pair’s minor support is around 0.8640. Indicative break below 0.8640 would extend loss to 0.8600/0.8545 level.
Recommendation: Sell AUD/USD around 0.8650, SL 0.8700, Target 0.8545.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.8643
Kijun-Sen level: 0.8677
Ichimoku cloud top: 0.8707
Ichimoku cloud bottom: 0.8667
AUD/USD made a low of 0.8565 and has recovered from that level. Overall trend is weak as long as 0.8700 holds. Any break above 0.8700 will target 0.8750/0.8805 in short term.
The pair’s minor support is around 0.8640. Indicative break below 0.8640 would extend loss to 0.8600/0.8545 level.
Recommendation: Sell AUD/USD around 0.8650, SL 0.8700, Target 0.8545.
