AUD/USD Price Prediction – AUGUST 21
There had been long movements in the AUD/USD trade operations before the currency pair price retraces after it failed to stay afloat over the 0.7100 level. The market is between 0.68590 and 0.69195 value lines at an average minute negative percentage rate of 0.57.
AUD/USD Market
Key Levels:
Resistance levels: 0.7000, 0.7100, 0.7200
Support levels: 0.6750, 0.6650, 0.6550
AUD/USD – Daily Chart
The daily chart pictures that the currency pair market retraces around 0.7100 after a line of higher-surging motions. The bearish trend line drew southward from 0.74641 down to the area at 0.71042, where the price began the retracement move. The 14-day SMA indicator is at 0.695922 beneath the 0.70295 value point of the 50-day SMA indicator. The baseline is drawn at the 0.6700 support level to showcase the overall trading outlook is in a triangular trading shape. The Stochastic Oscillators have dipped into the oversold region, touching the ranges between 12.19 and 0.00. That denotes falling force is on the route of fading off gradually.
Has any signal denoted a continuation of corrections in the AUD/USD market operations?
Presently, a bearish candlestick is still in the making, signaling a correction is ongoing below the trend line of the 14-day SMA as the currency pair retraces at the 0.7100 level. It may be taking a while before buyers can gain a decent stance to launch a buying order.
On the downside of the technical, the AUD/USD market sellers are gradually heading toward exhausting their energetic forces as the price is downsizing southward underneath the trend lines of the SMAs. Some declines may still occur with less-active moves to let the trade feature a formation closely over the 0.6700 support baseline.
The analytics, at a glance, it has been observed that the AUD/USD market has reached an oversold reading condition, suggesting that sellers may need to suspend their actions of exerting new sell orders for a while. A rebound, featuring a bullish candlestick at the end may build up a buying wall through which buying orders can achieve.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart portrays that the currency pair market retraces around the 0.7100 value line. The 14-day SMA indicator has briefly crossed the 50-day SMA indicator to the downside to keep a lower value line of 0.69507 below the 0.69717 value point of the bigger trading tools. The Stochastic Oscillators are southbound positioned at the range points of 25.09 and 13.52. They are still somewhat pointing southward direction to denote a falling force is ongoing.
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