Ichimoku Trade Setups - AUDUSD Kijun Sen Support, More Upside? July 25th

ichimoku kijun support chikou rejection 2ndskiesforex.com july 25th

After posting a strong 3 day pullback, the Aussie found strong support at the kijun sen support forming an outside bar in the process.  This also coincided with a short term channel support which has now played out 3x on both ends.  Although the Kijun is currently flat, it held price and combined with the tenkan climbing, I am expecting more upside.

The chikou though rejected off the Span B and is still having trouble making headway which leaves me to believe upside will be seriously challenged around 1.0450 – 1.0500.  Bears can look for price action triggers around here to possibly sell if the pair shows weakness on approach.  Bulls meanwhile can look for intraday longs around 1.0200 …

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