AUD/USD Market Activity Ranges in 0.7400 and 0.7300

AUD/USD Prediction – August 16
It observes that the AUD/USD market activity ranges in 0.7400 and 0.7300 levels. The market now trades at a percentage rate of 0.38%. The currency pair’s trading zone is at a lower downside.

AUD/USD Market
Key Levels:
Resistance levels: 0.7400, 0.7500, 0.7600
Support levels: 0.7300, 0.7200, 0.7100

AUD/USD – Daily Chart
It is revealed on the AUD/USD daily chart that the currency pair market activity ranges in 0.7400 and 0.7300 levels. The 50-day SMA trend-line is above the 14-day SMA trend-line. The bearish channel trend lines still feature the downside of the SMA indicators. The Stochastic Oscillators have closed the lines at range 80, suggesting that there may soon be more downward movements in the market.
As the AUD/USD market activity ranges in 0.7400 and 0.7300 presently, will there be a volatile movement soon?
It appears necessary that traders set to be on the lookout for the next occurrence of price volatility in the AUD/USD trading operation as the market activity ranges in 0.7400 and 0.7300. In the event of that assumption coming to play out, the price may continue to push around those points earlier mentioned until a while. Bulls are to watch out for when the downward pressure tends to get exhausted at a lower support trading zone before considering joining the trade.

On the downside, bears needed to be on the lookout for price strong resistance movement that may occur around the mid-point of 0.7400 and 0.7300 to observe a shorting order of the currency pair’s operations. The higher value appears to be the main resistance line that shouldn’t be allowed to breach northward by bears’ presence in the market. Otherwise, a breakout at that point may allow a change in the current direction to favor the upsides.

Summarily, as of writing, the AUD/USD currency pair trades in well-defined range-bound zones. Despite that range trading situation, bears are most likely to continue to push prices southward further out of the ranging zones afterward.
AUD/USD 4-hour Chart
The upper bearish channel trend-line showcases the path that the AUD/USD’s price maintains as the market activity ranges in 0.7400 and 0.7300 levels. The 50-day SMA indicator is over the 14-day SMA indicator, slightly pointing southward to denote the probability of getting more downs in the market. The Stochastic Oscillators have crossed southbound closely to the range 20. And, they still point to the south to suggest that some degrees of falling forces will feature in the near time.


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