H4
The aussie has been declining further amid the US dollar advancing at all points. The prices exited the 4-hour cloud and this caused extension of the downtrend. However, as mentioned in the previous review, the Chinkou Span is currently approaching the area of maximum deviation from the price graph. Thus, consolidation on the market is possible.
However, the situation remains bearish as the Tenkan-sen and the Kijun-sen (3,4) are indicating further downside movement.
H1
On 1-hour graphs we still can see the downtrend. The Ishimoku cloud has downward character, the Tenkan-sen and the Kijun-sen (3,4) are slowly moving downwards.
In the nearest future the bears are likely to extend the downtrend, but the 0.9880 might provide support, which can force the prices to get into consolidation phase. Afterwards downside movement will resume.
