Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
AUD/USD: main trend still bearish
Information is not investment advice
The main trend is still bearish. It seems like there's a bullish 'Head and Shoulders' pattern, which has been confirmed. Thus, it's likely to have an upward price movement towards the previously tested resistance at 0.7115 (near the 89 Moving Average). The subsequent pullback from these levels could lead to another decline in the direction of the nearest important support at 0.7042 - 0.7009.
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