FX.co ★ Ichimoku graphic analysis: AUD/USD

H4

Yesterday in the evening the bears could not continue the downtrend on the Australian dollar market. However, there was an attempt of a decline and the price reached the negative zone below the Ichimoku cloud.
Nevertheless, by the end of the trading session the Australian currency was purchased actively, which resulted in a breakthrough of the Kumo. Along with it the Tenkan-sen (3) and the Kijun-sen (4) were breached as well. Given the horizontal character of the Kijun-sen, we might consider that the bulls have enough power for further advance.
Besides, the Senkou Span A and B (1,2) did not cross and did not change the upside character of the Cloud.

H1

Yesterday in early European session the market grew sharply to the lower limit of the Cloud. However, the horizontal Senkou Span B did not allow the price to go up further, which resulted in a rebound down.
However, despite of the breached Kijun-sen, the bears could not bring the spot rate lower than February 22 low. And by the end of the zone it appeared to be in the Cloudiness zone.
All these sharp moves resulted in indefinite crossing of the Tenkan and the Kijun-sen, but at the moment both of them are advancing (3). The Senkou Span A (1) is growing along with them, thus narrowing the range of the Cloud.
Positive sentiment during today’s opening allowed breaking the upper limit of the Kumo. Probably in the nearest future a pattern “breakthrough-rebound up off the Senkou Span B” will be formed and the growth will continue. In this case the nearest resistance is located at 1.0120.