{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/aud-usd-market-keeps-a-drawn-down-in-a-correction-setting\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/aud-usd-market-keeps-a-drawn-down-in-a-correction-setting\/","headline":"AUD\/USD Market Keeps a Drawn-down in a Correction Setting","name":"AUD\/USD Market Keeps a Drawn-down in a Correction Setting","description":"AUD\/USD Price Prediction \u2013 April 8The AUD\/USD market activity keeps a drawdown in a correction setting. And that has been the trading situation after the base currency turned out debasing against its countering coin lately. The trade opens at 0.7389 or thereabout, trading between the high of 0.7403 and a low of 0.7351, keeping an […]","datePublished":"2022-04-19","dateModified":"2022-04-19","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/04\/AUDUSDDAILYCHARTAPR18.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/04\/AUDUSDDAILYCHARTAPR18.png","height":640,"width":941},"url":"https:\/\/forexschoolonline.com\/aud-usd-market-keeps-a-drawn-down-in-a-correction-setting\/","about":["AUD\/USD","FX Technical Analysis"],"wordCount":448,"keywords":["AUD\/USD","Technical Analysis"],"articleBody":"AUD\/USD Price Prediction \u2013 April 8The AUD\/USD market activity keeps a drawdown in a correction setting. And that has been the trading situation after the base currency turned out debasing against its countering coin lately. The trade opens at 0.7389 or thereabout, trading between the high of 0.7403 and a low of 0.7351, keeping an average minute negative percentage of 0.45.AUD\/USD MarketKey Levels: Resistance levels: 0.7400, 0.7500, 0.7600Support levels: 0.7200, 0.7100, 0.7000AUD\/USD \u2013 Daily Chart The AUD\/USD daily chart showcases the currency pair market keeps a drawdown in a correction setting, closely above the bigger-SMA trend line. The 50-day SMA indicator is underneath the 14-day SMA indicator. The bearish trend line drew over the smaller SMA to observe the path to the downside. The Stochastic Oscillators are in the oversold region, moving in a consolidation style to attest to a downward force.Will the AUD\/USD market drop past the 0.72000 support level in the near time?There can be a prolongation of falling pressure in the AUD\/USD trade as the currency pair market keeps a drawdown in a correction setting. Long-position placers may have to wait for a bullish candlestick to occur around the 0.73000 for confirmation of whether the current falling pace will experience an end or not before going for longing orders again.On the downside of the technical analysis, the AUD\/USD market short-position takers would have to keep the price below the 0.7400 resistance level. A sudden rebounding motion should not occur in the subsequent active sessions. The trading points between 0.7300 and 0.7200 will have to focus on by the market to accomplish its declining forces at the expense of bulls\u2019 weaknesses.The analytics, at a glance, the AUD\/USD traders may have to suspend shorting news orders for a while as an oversold condition has indicated in the market to avoid getting caught by the bears\u2019 trap in no time, especially around the points of 0.7300 and 0.7200.AUD\/USD 4-hour ChartThe AUD\/USD 4-hour chart shows the currency pair market keeps a drawdown in a correction setting within definite bearish channels. The 14-day SMA trend line is underneath the 50-day SMA trend line. The Stochastic Oscillators are around the 80 range line, attempting to close their lines at it. A bearish candlestick spans southward from the smaller-SMA sell signal side toward the lower bearish trend line. The verdict remains the current pace of falling force has not been complete to find an ideal support spot for a visible bouncing-off moment to keep back an upward motion on the track.Note:Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}