The AUDUSD is trading at 0.7074, below the Ichimoku cloud, which means there’s a downtrend forming. We expect a test of the signal lines at 0.7085, and then a fall to 0.7025, 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 0.7110, which will be a signal for a further rise to 0.7195 and above.
Orgin: RoboForex
