The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
AUD/USD: aussie bounced from SSB
Technical levels: support – 0.7570; resistance – 0.7615, 0.7650.
- Buy — 0.7580; SL — 0.7560; TP1 — 0.7650; TP2 — 0.7690.
Reason: narrow bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; but the prices supported by Senkou Span B and entered to the channel Tenkan-Kijun.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.
If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…