FX.co ★ Ichimoku graphic analysis: AUD/USD

H4

On a 4-hour graph the Australian dollar trading was conditioned by the sideways movement along the horizontal Rotation line (3).
Despite active buying in today’s early trading, the price could not breakout and close the 0.9800 level.
As a result, today started with a positive tendency and the aussie closely approached the 0.9950 level, having broken the Tenkan-sen (3) and the Kijun-sen (4). It is possible that the bulls will try to recover the market to 1.0000.
However, the major tendency remains negative as the Ichimoku Cloud is diverging down (1). Besides, the Dead Cross still applies (5).

H1

As a result of the morning recovery the aussie rate on 1-hour graphs rushed into the Ichimoku Cloud and started to break it up.
The Gold Cross formed yesterday by the Tenkan and the Kijun almost cancelled. However, at the moment the lines coincide and are advancing further (3). This indicates strong bullish sentiment on the market and it is possible that in the nearest time the price will fixate in a positive area. But in order to do this, the buyers will have to break the 0.9935 resistance formed by the upper limit of the Cloud.
Therefore, in the next few hours a rebound down to the Rotation line (3) is possible, and the growth is likely to be resumed from these levels.