AUD/USD: aussie under SSB’s resistance

AUD/USD: aussie under SSB’s resistance

Technical levels: support – 0.7690; resistance – 0.7780

Trade recommendations:

  1. Sell — 0.7760; SL — 0.7780; TP1 — 0.7690; TP2 — 0.7660.
  2. Buy — 0.7780; SL — 0.7760; TP1 — 0.7840; TP2 — 0.7880.

Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but narrow channel Tenkan-Kijun; the bulls can’t breakout the Senkou Span B’s resistance.

03-audusdh4.png

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NZD/USD: kiwi lost power

On the daily chart of NZD/USD, the inability of bulls to keep the pair above the upper border of the 0.7185-0.735 consolidation range signaled their weakness and triggered the “Shakeout-Fakeout” pattern.

AUD/USD: the bulls are in panic

Extremely narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the market is under the Cloud, but it’s oversold right now – waiting for the correction.

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