AUD/USD Prediction – September 6
The AUD/USD market currently makes moves for recovery, slightly out of the long downtrodden pathway the currency pair has been suffering over time. As of writing, the market’s price trades around the level of 0.7433 with about a smaller negative percentage rate of 0.22. That shows that the pressure of recovery has been a bit reduced.
AUD/USD Market
Key Levels:
Resistance levels: 0.7500, 0.7600, 0.7700
Support levels: 0.7300, 0.7200, 0.7100
AUD/USD – Daily Chart
It is on the AUD/USD daily chart; the currency pair market makes moves for recovery, pushing northwardly side above the trend-line of the smaller SMA that is still situated around the path of the recent past upper bearish channel trend-line drew. A bullish candlestick occurred against the upper bearish path-line on September 1st, giving the following days’ sessions a better edge to push further to the upside. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators are in the overbought region with the lines conjoined, seemingly trying to cross southbound. That probably portends a warning against having further smooth pushes to the north side in the subsequent sessions.
Could it be that the AUD/USD pair has finally set for northward pushes as the market makes moves for recovery?
A baseline for support appears to have been found around 0.7100 level while the price was able to spring northwardly from that lower trading zone during the August 23rd trading time. The slight-bending posture of the 14-day SMA indicator beneath the 50-day SMA indicator signifies brighter trading days are in the loom for the AUD/USD market bulls even that there may be a line of smaller downs below 0.7500.
On the downside, the positioning of the bigger SMA trend-line around the level of 0.7500 signifies that the currency pair market will encounter a resistant trading situation in the days’ operations ahead. However, a sustainable sell entry may not as well be coming forth smoothly. A rejection of price movement around the value mentioned will potentially allow bears of the currency pair market to find an entry for a while.
In summary, reliable bearish forces appeared to have been exhausted as the currency pair’s price has managed to push northward off the smaller SMA trend-line, closely reaching a higher line beneath the bigger SMA trend-line.
AUD/USD 4-hour Chart
On the AUD/USD 4-hour chart, the currency pair market makes moves for recovery, turning from a bearish trend into a bullish outlook. The 50-day SMA trend-line had intercepted by the 14-day SMA trend-line from the beneath during the August 31st trading period. The bullish trend-line drew tightly above the smaller SMA to place a supportive mark at 0.7400. The Stochastic Oscillators wind down into the oversold region, seemingly making an effort to close the lines. And, that could in no time lead to crossing northbound to suggest a resumption of an uptrend motion of the market.
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