Short term trend: Bearish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.0831
Kijun-Sen level: 1.0817
Ichimoku cloud top: 1.0813
Ichimoku cloud bottom: 1.0802
AUD/USD has formed a triple top around 1.0860 and is expected to show a freefall in the coming days .The overall trend is weak as long as 1.0860 holds.
On the upper side break of 1.0860 would extend gain to 1.0887 and 1.0917 (61.8% retracement of 1.1016 and 1.07585). The pair’s minor support is around 1.07585 and break below will take the pair to 1.0698 (161.8% retracement of 1.07585 and 1.08579).
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell AUD/NZD around 1.08020-30, SL 1.0860, Target 1.0698.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.0831
Kijun-Sen level: 1.0817
Ichimoku cloud top: 1.0813
Ichimoku cloud bottom: 1.0802
AUD/USD has formed a triple top around 1.0860 and is expected to show a freefall in the coming days .The overall trend is weak as long as 1.0860 holds.
On the upper side break of 1.0860 would extend gain to 1.0887 and 1.0917 (61.8% retracement of 1.1016 and 1.07585). The pair’s minor support is around 1.07585 and break below will take the pair to 1.0698 (161.8% retracement of 1.07585 and 1.08579).
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell AUD/NZD around 1.08020-30, SL 1.0860, Target 1.0698.