EUR/JPY broke key support level 131…
AUD/CAD strongly bearish at H4 chart
There is a strong bearish path in the AUD/CAD pair, according to our projections in the H4 chart. Since one month ago, we’ve been seeing a lower consolidation below the 200 SMA and now the pair is finding support in the 0.9607 level. That’s why we’re forecasting a possible recovery on its way to reach the Fibonacci zone of 50% at 0.9759, at which could be offered in order to reach the -23.6% Fibo level at 0.9535.
RSI indicator remains slightly below the 50 level.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.