Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.8738
Kijun-Sen level: 0.8721
Ichimoku cloud top: 0.8642
Ichimoku cloud bottom: 0.8696
AUD/USD made a low of 0.8680 and is slightly recovering from that level. Overall trend is bullish as long as 0.8650 support holds. Breaking 0.8650 pushes the pair to 0.8625/0.8540.
The pair’s minor resistance is around 0.8750 and any indicative break will target 0.8795/0.8825 (76.4% retracement of 0.8910 and 0.8539).
It is good to buy around 0.8690 for the target of 0.8820.
Recommendation: Buy AUD/USD around 0.8690, SL 0.8650, Target 0.8825.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.8738
Kijun-Sen level: 0.8721
Ichimoku cloud top: 0.8642
Ichimoku cloud bottom: 0.8696
AUD/USD made a low of 0.8680 and is slightly recovering from that level. Overall trend is bullish as long as 0.8650 support holds. Breaking 0.8650 pushes the pair to 0.8625/0.8540.
The pair’s minor resistance is around 0.8750 and any indicative break will target 0.8795/0.8825 (76.4% retracement of 0.8910 and 0.8539).
It is good to buy around 0.8690 for the target of 0.8820.
Recommendation: Buy AUD/USD around 0.8690, SL 0.8650, Target 0.8825.