AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7005 and then resume moving upwards to reach 0.7290. Another signal in favour of a 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 0.6910. In this case, the pair may continue falling towards 0.6805. Bulls may face strong resistance at 0.7130.
EURUSD, “Euro vs US Dollar”
EURUSD is testing the support area. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0635 and then resume moving upwards to reach 1.0865. Another signal in favour of a 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 1.0450. In this case, the pair may continue falling towards 1.0455.
AUDNZD, “Australian Dollar vs New Zealand Dollar”
AUDNZD is moving within the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0985 and then resume moving downwards to reach 1.0815. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1035. In this case, the pair may continue growing towards 1.1130.
Source: Roboforex
