Ichimoku cloud analysis: USD/CHF, AUD/USD, USD/CAD
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF has found a foothold under the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.8535 is expected, followed by a rise to 0.8995. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 0.8635, which will mean a further decline to 0.8545.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6505 is expected, followed by a decline to 0.6365. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 0.6565, which will mean further growth to 0.6755.
USD/CAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the support area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3525 is expected, followed by a rise to 1.3655. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.3430, which will mean a further decline to 1.3340.
Author
RoboForex Team
RoboForex
RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.
