H4
The bears could not break the Kijun-sen line on the Australian dollar market. As a result, the price bounced off it and fixated above the Rotation line, which initiated further buying. This caused forming new all-time highs above the 1.0850 level.
Upside trend remains on the market: the Ichimoku Cloud has a positive character supported by the Senkou Span A and B (1, 2).
Besides, the Tenkan-sen and the Kijun-sen are directed up as well (3). Simultaneously, they coincide, thus indicating a strong bullish trend in the short term as well.
H1
The support level 1.0765 turned out to be stronger than expected. From this level the short-term market took a quick reverse to get out of the Cloudiness zone and finally fixate above the Senkou Span A in early European session.
The Tenkan-sen and the Kijun-sen immediately rearranged, cancelled the Dead cross and moved horizontally for a while, thus having formed another support level. However, by the end of the day a Gold Cross (5) was formed, which confirmed the short-term market’s intention to continue the uptrend.
Besides, there are tendencies for further recovery in the long term – the Senkou Span A and B (1, 2) started to advance, thus supporting the upside character of the Kumo.
The growth is likely to be continued today, but only after the Chinkou Span leaves the overbought zone.
