AUD/USD Price Breaks Past Variant Resistances

AUD/USD Price Prediction – March 7
Different trading activities have been happening that have now led to hiking in the AUD/USD market operations as the currency pair price breaks past variant resistances over some days’ sessions. Given the financial trading status of the fiat currency pair, the opening price balance as of today is 0.7371 as the high, and the low values are 0.7441 and 0.7354 to maintain a minute positive percentage of 0.70.

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
The AUD/USD daily chart shows the currency pair price breaks past variant resistances as it keeps stronger, consolidating northward in an overbought condition until the writing of these analytics. The upper bullish channel trend line drawn has been breached, featuring a bullish candlestick to denote the intense pace of the trading situation. The 14-day SMA indicator moves up underneath toward the 50-day SMA indicator. And they are below the current trading level. The Stochastic Oscillators are in the overbought region, moving in a consolidation style to denote the base currency is on a higher-increasing mode presently.
Is there any sign suggesting an end to the current bullish trend as the AUD/USD price breaks past variant resistances?
Neither a sign suggesting a stop to the current bullish trend nor a decent entry to join the moves to the upside has resurfaced. A visible pull-down is necessary to occur in a correctional form to give strength back to the northward trend so that bulls may rebuild a better entry. Traders should be wary of a sudden bearish candlestick, especially if its emergence engulfs the immediate past set of bullish candlesticks.

On the downside of the technical analysis, the AUD/USD market short-position placers may have to wait for about two or three bearish candlesticks at a higher trading zone to begin considering the launching of shorting orders. Bears may get it right if the price loses momentum around 0.7500 resistance level.

At a glance, long-position takers needed to be wary of launching further buying orders, especially when no force is backing the entries. Short-position takers may have to be on the lookout for bulls’ weakness when a confluence of variant candlesticks formed around a higher resistant trading spot to launch a sell order afterward by taking to the rules of not using high lot size or over-leverage.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart reveals the currency-pair price breaks past variant resistances as bullish candlestick formed above the upper bullish channel trend line portends an extreme overbought trading condition for the current trading outlook. The 14-day SMA indicator is above the 50-day SMA indicator. And, they are pointing toward the north side underneath the present trading level. The Stochastic Oscillators are in the overbought region, moving in a consolidation manner to denote that bullish momentum is in an increasing-moving mode. But, it seems that the price will soon encounter resistance beneath 0.7450.


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