AUDUSD is trading at 0.6895; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may continue the correction, test the cloud’s upside border at 0.6920, and then resume moving downwards to reach 0.6805. Another signal to confirm further descending movement is the price’s rebounding from the resistance level.
However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6955. In this case, the pair may continue growing towards 0.7035. After breaking the rising channel’s downside border and fixing below 0.6865, the price may resume moving downwards.
Orgin: RoboForex
