The AUDUSD is trading at 0.7080, inside the Ichimoku cloud, which means the pair is trading sideways. We are expecting a test of the lower cloud boundary at 0.7055, and then a downward pullback to 0.7185, which may be confirmed with the price bouncing off the support.
This rise may be prevented in case price breaks out the lower boundary of the Ichimoku cloud and closes below 0.7035, which will be a signal for a further fall to 0.6965 and below. The rise will get confirmed once the upper boundary of the descending channel is broken out and the price closes above 0.7115.
Orgin: RoboForex
