FX.co ★ Ichimoku graphic analysis: AUD/USD

H4

The aussie is recovering further and has fixated above the 1.0100 level by the end of yesterday’s trading session.
However, before this the bears were trying to bring the price back to the negative zone under the 4-hour Ichimoku Cloud. Nevertheless, upside situation was in advance: the Kumo did not change its character and is diverging up at the moment as the Senkou Span A is growing (1).
Besides, today in early trading the Tenkan-sen and the Kijun-sen formed a Gold cross (5), which reassures venturesome buyers.
The recovery is likely to continue.

H1

Breakout of the upper limit of the Cloud during the Asian session did not influence players properly: the market barely reached the 1.0080 level and collapsed back to the 1.0000 support, thus breaking all Ichimoku lines. However, the lower limit of the Cloud managed to provide a support and further trading was continuing in the uptrend.
Today’s opening indicated the market’s intention to continue the growth, but the 1.0130 can slow down the recovery.
Nonetheless, the situation remains positive: the Ichimoku Cloud has a positive character, the Tenkan-sen and the Kijun-sen have formed another Gold cross. Therefore after a slight consolidation on current levels a breakout of the indicated resistance is possible.