AUDUSD is trading at 0.6952; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6945 and then resume moving upwards to reach 0.7040. 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 cloud’s downside border and fixes below 0.6925. In this case, the pair may continue falling towards 0.6875. After breaking the cloud’s upside border and fixing above 0.6985, the price may continue moving upwards.