AUDUSD is trading at 0.7058; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the downside border of the cloud at 0.7040 and then resume moving downwards to reach 0.6960. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s downside border.
However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7025. In this case, the pair may continue falling towards 0.7005.