AUD/USD: Ranging Inside the Ichimoku CLoud

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AUD/USD: Ranging Inside the Ichimoku CLoud

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