AUD/USD Market is Beefing Up From the 0.6700 Support

AUD/USD Price Prediction – July 17
It is somewhat established that the AUD/USD market operation is beefing up from the 0.6700 support line after several drops in sequential order. As of writing this analysis, the price trades between 0.6806 and 0.6718 at a minimal percentage rate of 0.65.

AUD/USD Market
Key Levels:
Resistance levels: 0.6900, 0.7000, 0.7100
Support levels: 0.6700, 0.6600, 0.6500

AUD/USD – Daily Chart
The AUD/USD daily chart reveals the currency pair market is beefing up from the 0.6700 support level. The 14-day SMA indicator is beneath the 50-day SMA indicator. The horizontal line drew at the value line mentioned earlier to indicate the point from where the trade is attempting to spring northward. The Stochastic Oscillators have been swinging closely over the range of 20 and beneath the 60 range. Variant candlesticks that been, yet, signify the degrees of the bears’ presence in the market.
Will the AUD/USD market decline underneath the settings of the SMAs further?
As the AUD/USD market is beefing up from the 0.6700 support point underneath the settings of the SMA trend lines, price tends to encounter resistance around 0.6882, judging by the reading of the 14-day SMA indicator afterward. It remains about 91 pips to reach the value. Long-position takers could join the trend to up to the resistance spot.

On the downside of the technical analysis, bears may have to wait for the price’s reactions around the 0.6882 resistance level to see if there’ll be a forceful rejection around it before launching a sell order. In the wake of the market breaking out at the value line, the AUD/USD trade sellers may regain their stances around a higher resistance point of 0.7070.

The analytics, at a glance, as the AUD/USD market has somewhat found support around the 0.6700 level, the price has a higher probability of surging further through some overhead barrier-trading points in the following sessions.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart showcases the currency pair market activity is beefing up from the 0.6700 support level. A bearish trend line is over the trend lines of the SMAs. The Stochastic Oscillators have swung northward, trying to penetrate the overbought region. And they are pointing toward the north direction to indicate the base currency possesses the great potential to outpace its counter-trading instrument in the following sessions. But, buyers should be wary of a correction against the support value line mentioned at the beginning of this analytics paragraph.


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