AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD has found a foothold under the lower boundary of the bullish channel. The instrument is going under the Ichimoku Cloud, revealing the prevalence of a downtrend. A test of the Tenkan-Sen line at 0.6715 is expected, followed by a decline to 0.6570. The decrease could be additionally supported by a rebound from the upper boundary of the bearish channel. The scenario might be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 0.6805, which will entail a further rise to 0.6905.
USDCAD, "US Dollar vs Canadian Dollar"
USDCAD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which implies an uptrend. A test of the Kijun-Sen line at 1.3345 is expected, followed by a rise to 1.3525. The growth could be additionally supported by a rebound from the lower bullish channel boundary. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.3230, which will entail a further decline to 1.3140.
USDJPY, "US Dollar vs Japanese Yen"
USDJPY is testing the Kijun-Sen line. The instrument is going above the Ichimoku Cloud, which implies an uptrend. A test of the upper boundary of the Cloud at 143.00 is expected, followed by a rise to 147.95. The growth could be additionally supported by a rebound from the lower bullish channel boundary. The scenario could be cancelled by a breakout of the lower Cloud boundary with the price finding a foothold under 141.20, which will entail a further decline to 140.30.
Our analytics team will be back on 9 January 2024 with the latest overviews and forecasts. Happy Holidays!