AUD/USD Market Heightens Retracement

AUD/USD Prediction – September 20
The AUD/USD market heightens retracement while it couldn’t regain much-needed energy to push northward against the 0.7500 resistance level. The currency pair price is trading around 0.7260 at a negative percentage rate of about 0.03. That suggestively depicts that the weight to the downside is on declining.

AUD/USD Market
Key Levels:
Resistance levels: 0.7300, 0.7400, 0.7500
Support levels: 0.7100, 0.7000, 0.6900

AUD/USD – Daily Chart
The AUD/USD daily chart showcases that the currency pair market heightens retracement southward, averaging the support line at 0.7200. The 14-day SMA trend line is underneath the 50-day SMA trend line. Being as it is, the current re-surfacing downward motion breaches the smaller SMA indicator to the south. The Stochastic Oscillators have moved down into the oversold region closer to the range line of zero. That indicates the possibility of that the market finding a sit around 0.7200 in the near time.
At what point the AUD/USD trade may find a strong baseline as the market heightens retracement?
Expectantly in about a few days’ trading sessions more, the AUD/USD trade may have found a sit around 0.7200 for a more visible completion of support baseline that bulls needed to re-build their presence. In addition, a bullish candlestick is required for a confirmation to make a decent stride. In the absence of that assumption not coming to play out, the subsequent result may still succumb to the downside on a gradual moving mote.

In an extension of the current downward-moving retracement, the AUD/USD market bears would need to hold their presence firmly beneath the trend line of the smaller SMA. Price may, in the process of consolidating, below the indicator eventually, moves southward further to retest a lower line close above the support line at 0.7100.

In summary, despite that the AUD/USD market faces early retracement motions, long-position traders may still have to wait for a bullish confirmation candlestick to form at a lower trading axis that is capable of engulfing some of the past bearish candlesticks especially, beneath the trend line of the 14-day SMA to be able to re-launch a decent buy order.
AUD/USD 4-hour Chart
The AUD/USD medium-term showcases that the currency pair market heightens retracement movements far beneath the SMA trend lines. The current trading situation on the 4-hour chart also reveals a close returning of bearish trend as the 14-day SMA is underneath the 50-day SMA. The Stochastic Oscillators have crossed the lines northbound against the range of 20, nearing range 40. That gives a sign that soon afterward, there will be an upswing motion in the fiat currency market.

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