AUDUSD is trading at 0.6878; 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 0.6875 and then resume moving upwards to reach 0.7175. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border.
However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6790. In this case, the pair may continue falling towards 0.6705. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7025.
Orgin: RoboForex
