FX.co ★ Ichimoku graphic analysis: AUD/USD

H4

A consolidation began on the aussie market. During yesterday the price returned to the Kijun-sen in a 4-hour graph, having broken it up. However, the bulls did not manage to fixate above. This resulted in further trading above the Tenkan-sen and the Kijun-sen, which coincide at the moment and are directed horizontally (3).
Simultaneously, the Chinkou Span closely approached the graph and is about to cross it down any moment.
If the bulls are not taking the initiative during the next few hours, the decline will be continued. In this case the upper limit of the Cloud will provide support.

H1

In 1-hour graphs yesterday’s trading got into the Cloud, in accourdance with the seconda option suggested in the previous review – the bears could not fixate below the Senkou Span B and appeared inside the Kumo.
However, the bulls did not find enough strength to continue the recovery and without reaching the upper limit, the price stuck to the Senkou Span B, periodically bouncing off it into the Cloud. The Tenkan-sen and the Kijun-sen that formed crosses several times, provided resistance from the upside.
At the moment the Dead Cross (2) puts pressure on the market. However, its influence is not so strong anymore – the Kijun-sen is directed up. It can possibly cause the bulls to become more active and try to break the Cloud up.
If they succeed, we can expect a recovery to the 1.0550 level. Otherwise, yesterday’s target at 1.0380 will apply.