Short term trend: Bearish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 0.8702
Kijun-Sen level: 0.8707
Ichimoku cloud top: 0.8670
Ichimoku cloud bottom: 0.8654
AUD/USD is trading in price channel for the past one week. Overall trend is weak as long as upper channel resistance 0.8760 holds.
Any indicative break above 0.8760 would extend gain to 0.8773/0.8805.
The pair is facing minor support around 0.867 (Cloud top) and any break below will target 0.8644/0.8635 (trend line joining 0.85396 and 0.8589).
Recommendation: Sell AUD/USD around 0.8725, SL 0.8765, Target 0.8635.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 0.8702
Kijun-Sen level: 0.8707
Ichimoku cloud top: 0.8670
Ichimoku cloud bottom: 0.8654
AUD/USD is trading in price channel for the past one week. Overall trend is weak as long as upper channel resistance 0.8760 holds.
Any indicative break above 0.8760 would extend gain to 0.8773/0.8805.
The pair is facing minor support around 0.867 (Cloud top) and any break below will target 0.8644/0.8635 (trend line joining 0.85396 and 0.8589).
Recommendation: Sell AUD/USD around 0.8725, SL 0.8765, Target 0.8635.