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Forex: Ichimoku Clouds. Review of AUD/USD

AUD/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is above the price chart; current cloud is ascending. The closest support level is Tenkan-sen line (0.9274). One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.9372.

AUD/USD, D1

On the daily chart Tenkan-sen line is above Kijun-sen, the lines have turned upwards. Chinkou Span line is above the price chart; current cloud is ascending. The pair continues to rise, Tenkan-sen line (0.9256) is the closest support level. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 0.9428.

 Key levels

Support levels: 0.9274, 0.9256.

Resistance levels: 0.9372, 0.9428.

Trading tips

On both chart we can see a development of an upward trend. Targets for the long positions are 0.9372 and 0.9428.

 

Anastasiya Glushkova

Analyst of LiteForex Group of Companies

Tuesday, 08 Apr, 2014 / 8:34

Source : http://www.liteforex.com/

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