0
1 133
AUD/USD is on bearish market condition since the middle of the last year: the price broke Ichimoku cloud from above to below for good breakdown. For now, the price is on bearish market condition with the ranging between 0.7438 resistance level and 0.6907 support level. Ichimoku cliud is located too far from the market price which makes the bullish reversal to be unlikely during this year.
The most realistic scenarios for this pair at year-end are the following:
- the pair will be ranging within 0.7438/0.6907 key levels (which is more likely scenario);
- price will break 0.6907 support level from above to below with S3 Pivot at 0.6181 as a next bearish target.
MN1 timeframe: the price is ranging within the primary bearish between 0.6907 support and 0.8162 resistance level.
Thus, we are expecting for this pair to continuing with the bearish ranging condition within 0.8162 and 0.6907 key levels.
