AUD/USD Price Prediction – July 24
The AUD/USD market operation averages a 0.7000 resistance line. The few hours have recorded that the price has been trading between 0.6977 and 0.6893 value lines at a minute negative percentage rate of 0.40.
AUD/USD Market
Key Levels:
Resistance levels: 0.7000, 0.7100, 0.7200
Support levels: 0.6800, 0.6700, 0.6600
AUD/USD – Daily Chart
The AUD/USD daily chart showcases the currency pair market averages 0.7000 resistance level near below the trend line of the bigger SMA. The 14-day SMA indicator is underneath the trend line of the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region with the lines closed within. The bearish trend line drew southward over the smaller SMA to touch a resistance point closely over the smaller SMA. A bearish candlestick is in the making to signify price may resume a downward-trending motion soon.
Will the AUD/USD market bulls lose momentum around the 0.7000 resistance?
Going by the reading of some indicators, the AUD/USD market operations may resume a downward-trending motion soon as the currency pair market averages a 0.7000 resistance level. As it is, it would be technically ideal for the long-position takers to suspend the execution of new buying orders at the current trading capacity for a while.
On the downside of the technical analysis, the AUD/USD market short-position takers may wait until a bearish candlestick emanates below the 0.7053 resistance before considering launching selling orders afterward. However, a sustainable downward push against the trend line of the 14-day SMA may be a reliable signal to the downside resumption.
The analytics, at a glance, and the general overview verdict on the AUD/USD market suggest selling force will prevail in this currency pair operation soon.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart showcases the currency pair market averages at the 0.7000 resistance level. The 14-day SMA indicator has intercepted the 50-day indicator. The bearish trend line drew southward to markdown an area of higher-trading resistance above the SMAs. The Stochastic Oscillators have crossed northbound from within the ranges of 20 and 40. And they have briefly positioned over the higher range point.
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