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AUD: Australian Dollar tends to retest the level of 1.0200
At the Forex currency market the Australian Dollar rate does not abandon the attempts to reach the highs at 1.0225. Purchases are restrained below the level of 1.0200.
Forex forecast: the combination of Japanese candlesticks Morning Star gives additional impetus to the growing quotes, the first target of the growth is the level of1.0200, after that the reversal to have losses up to the support level of 1.0000 is possible or further up to the level of 1.0225.
Forex analysis: FORCE indicator is in the positive area for the pair AUD/USD and downward trend is being observed; spread is at the key level of 0 points; divergence of the purchases is being formed. Stochastic Oscillator is at the threshold of 80 points-overbought zone. If this level is exceeded, there will be a sell signal; moving averages of the indicator are already in the bearish cross. We expect a new wave of profit taking for Longs at the level of 1.0200.
Ichimoku indicator shows the formation of the upward trend on the daily chart and at the same time stage of correction is being observed. Key moving averages are in the bullish cross, trading flat. Have losses level of support for the key slow indicator is at 1.0000.
Forex recommendations: speculate, having a target of growth to the level of 1.0200, after that consider the possibility to turn a position to reduce to the base level of 1.0000.
Feasible event scenario at Forex: if trading of the day will be closed below 1.0200 we forecast the increase in sales to the level of 1.0000.
There was no negative statistics on the economic state in the country. Traders’ attention is focused to the dynamics of the prices for the raw materials and on the possible weakening of the USD due to the rally on the raw materials assets.
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