The AUD/USD is trading at 0.7373, below the Ichimoku cloud, which means there’s a downtrend forming. We expect a test of the lower cloud boundary at 0.7405, and then a downward pullback to 0.7290. This fall may be prevented in case the price breaks out the upper boundary and closes above 0.7445, which will be a signal for a further rise to 0.7525 and above. Conversely, the fall will be confirmed once the ascending channel bottom boundary gets broken out and the price closes below 0.7315.
Orgin: RoboForex
