8:45 AM (EST) Update
AUD/USD Daily: Moving Up Inside the Ichimoku
Trading idea: Short term bullish with target set at 0.79
Risk event coming up: US Core Durable Goods Orders.
Technical Analysis: The Australian dollar continues to range inside the Ichimoku cloud creating short-term trading opportunities with small targets. Unable to break below the Ichimoku cloud we could expect to pair to move back up towards a key resistance level at 0.79 and 0.8050 in extension.
Alternative Scenario: Above Below Ichimoku look for more drops with 0.76 as target.
Where to set your stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.76 | 0.79 | 0.8050 |
| 0.73 | 0.8320 |
