Technical Talk:AUD/USD Intraday: rebound.
Our preference: long positions above 0.6855 with targets at 0.6885 & 0.6895 in extension.Alternative scenario: below 0.6855 look for further downside with 0.6845 & 0.6830 as targets.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is trading at 0.6870; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency.
The markets could indicate that the price may test the cloud’s upside
border at 0.6840 and then resume moving upwards to reach 0.6975.
Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6760. In this case, the pair may continue falling towards 0.6675.