Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the market supported by Tenkan-sen and it will continue the uptrend.
AUD/USD: bears regain their strength
On the AUD/USD daily chart, bears try to return quotes to the borders of the downward channel. If they succeed, the risks for the restoration of the downward trading channel will increase. In contrast, the rebound from the diagonal support may result in the development of consolidation.
On the AUD/USD hourly chart, there is a struggle for an important level of 0.7425. If bears wrestle the bulls down, the Australian dollar will move lower towards 0.7365 (target 161.8% in the "Crab" pattern). The Bulls' win may result in the return of quotes to the resistance at 0.774.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are a tested the main daily resistance, but the market needs a correction.
Recommendation: BUY 0…
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