Short term trend: Bearish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 0.8694
Kijun-Sen level: 0.8720
Ichimoku cloud top: 0.8705
Ichimoku cloud bottom: 0.8667
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 0.8818/0.8835.
The pair is facing minor support around 0.8660 (Trend line support) and any break below will target 0.8539/0.840 (1.618% retracement of 0.8539 to 0.8763).
Recommendation: Sell AUD/USD around 0.8760, SL 0.8835, Target 0.8401.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 0.8694
Kijun-Sen level: 0.8720
Ichimoku cloud top: 0.8705
Ichimoku cloud bottom: 0.8667
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 0.8818/0.8835.
The pair is facing minor support around 0.8660 (Trend line support) and any break below will target 0.8539/0.840 (1.618% retracement of 0.8539 to 0.8763).
Recommendation: Sell AUD/USD around 0.8760, SL 0.8835, Target 0.8401.