Kumowizard

AUDUSD - Previous bearish break has no confirmation yet.

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Daily: Sine end of July break and retest of the Kumo, this cross couldn't move significantly lower. Theoretically there's still chance for a bearish trend to develope, but for this AUDUSD should break below 0,9220, with Chikou Span coming below the Kumo too. Currently it rather looks like it can stuck in this wider range for some more time. Tenkan, Kijun and Kumo components are all flat. MACD looks a bit bullish too.

4 Hrs: Ichimoku setup is rather bullish , but would be hard to bet on it, since the upside can be limited on longs too, as there is the 0,9350 key level, which I think will not be easy to break through either, given that it is in line with daily Kijun Sen and Kumo bottom. Anyway, it doesn't look like a sell at all.

All in all it looks mixed now. Really bearish would be only below 0,9220, bullish only above 0,9450.

I rather don't touch it at all here.
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