Ichimoku cloud area and withdrew from 0.8066

Saint Tenkan-level: 0.7970
Saint Kijun-level: 0.8046
Ichimoku cloud top: 0.8027
Ichimoku cloud bottom: .8027

Our trading strategy: Selling 0.7970, Target: 0.7870, Stop: 0.8020

Although the Australian dollar rebounded sharply from 0.7858 to 0.8066 earlier, a couple managed to stay above the Ichimoku cloud area and withdrew from 0.8066, indicating a decline of 0.8238 (where the shooting star was formed) can continue along the near future sideways trading. Thus, a break below 0.7858 support is needed to confirm this view, then the Aussie will head south to 0.7828. Looking ahead, if this support in the 0.7828 is broken, it will confirm the double top formation of .8265 to .8238, then the last major correction the increase will be held at 0.7750/60, otherwise, the gyration 0.7828 to 0.8265 number will continue.

Therefore, while we prefer to sell the Aussie charge, you must book profits in such descend. The head, if the price rises above the Ichimoku cloud (now at 0.8027), this will bring more bounce to 0.8066 resistance and if the Aussie rises through this resistance, it would increase the chance of a triangle formation of 0.8265, then a stronger recovery of 0.8140/50 will follow.