AUD/USD Market Plunges Back into Downward Trend

AUD/USD Prediction – September 27
Lately, it recorded that the AUD/USD price rallied for a recovery. But, currently, the currency pair market plunges back into a downward trend. The rate at which the currency pair market pushes is about 0.28%, as the price maintains around 0.7276 as of writing.

AUD/USD Market
Key Levels:
Resistance levels: 0.7400, 0.7500, 0.7600
Support levels: 0.7100, 0.7000, 0.6900

AUD/USD – Daily Chart
The AUD/USD daily chart showcases that the currency pair market plunges back into a downward trend. The 14-day SMA trend line is underneath the 50-day SMA trend line as there has been a formation of serial bearish candlesticks beneath them. The Stochastic Oscillators have crossed the lines northbound from the overbought region to touch the range 40. That suggests that some degrees of uprisings are at stake.
Has the AUD/USD trade rebuilt its support as the market plunges back into a downward trend?
It appears that value-lines between 0.7200 and 0.7100 are the ma zones that the AUD/USD trade has to find support while unable to surge past a high level at 0.7400 lately. Being as it is, the currency pair market plunges back into a downward trend. But, it seems that price has been trying to make a decent rallying motion from a lower trading spot beneath 0.7300. Therefore, long-position takers have to brace up for emergences of up-rises in the near time.

On the downside, it established once again that the AUD/USD market hasn’t been free of a bearish trend. Based on that fact, the AUD/USD market bears may have to let price pull up to a high resistant-trading zone that will give birth to a notable bearish candlestick, signaling an active downward force before placing a sell position.

In summary, it appears that there are still indications backing the continuity of a downward trend in this market. Traders may only have to be on the lookout for a resistant-trading zone at a higher line coupled with price action to back their sell entries.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart depicts that the currency pair market plunges more distinctively into a downward trend as all the trading indicators are over the featuring of variant candlesticks denoting the current level of business operations. The 50-day SMA indicator is over the the14-day SMA indicator as the bearish trend line is drawn over them. The Stochastic Oscillators have slightly closed the lines over range 40. That signifies the possibility of seeing a pause trading outlook around the lowest-placed trend line of the 14-day SMA. A fearful push against the 0.7200 line may lead the market downward back to test its previous lower value between the levels of 0.7150 and 0.7100.


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