FX.co ★ Ichimoku graphic analysis: AUD/USD

H4

Yesterday the short-term situation on the aussie market changed in favour of the bulls after the sellers could not bring the spot rate down to the upper limit of the Cloud.
The Australian dollar began to grow and broke up Tenkan and Kijun lines. However, they managed to form a Dead cross (5).
Major tendency has remained positive: the Ichimoku Cloud has an upside character and the Chinkou Span is above the price graph.
However, all indicator lines are directed horizontally at the moment (1, 2, 3, 4). It means that consolidation on the market will be continued.

H1

The lower limit of the 1-hour Cloud – Senkou Span B – provided a good support to the price during yesterday’s decline. The bulls used this opportunity and restored morning’s decline. Moreover, by the end of the trading session the aussie rose to the upper limit of the Kumo.
Positive sentiment on the market allowed the Tenkan-sen and the Kijun-sen to form a Gold cross (5). At the same time, the lines are continuing to recover.
Besides, the Ichimoku Cloud, widening up due to the advancing Senkou Span A (1) indicates bullish sentiment even in long term.
However, the Chinkou Span is now in the maximum deviation zone, which might cause a short-term correction or consolidation on current levels.
Afterwards the growth is likely to be resumed.