The AUD/USD is trading at 0.7160, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the upper cloud boundary at 0.7160, and then a downward pullback to 0.7055, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This fall may be prevented in case the price breaks out the upper boundary and closes above 0.7205, which will be a signal for a further rise to 0.7315 and above.
Conversely, the fall will be confirmed once the bottom Ichimoku gets broken out and the price closes below 0.7115.
Orgin: RoboForex
