Aussie continues consolidating

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Aussie continues consolidating

12:15 PM (EST) Update

AUD/USD Daily: Testing Lower Band of Ichimoku Cloud

Suggested positioning: None.

Technical Analysis: The Australian dollar continues to range inside the Ichimoku cloud touching the lower band with all other moving averages straightening. A confirmation below the Ichimoku cloud could signal further drops.

Alternative Scenario: Above pivot level at 0.79 look for up moves towards 23% Fibonacci at 0.8050 and 0.8320

Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.76 0.79 0.8050
0.73 0.8320