AUD/USD Price Prediction – April 4
After a chain of higher forces in the AUD/USD trade, the currency market pair currently results in a range motion. The opening price is 0.7497, trading between the high and low of 0.7522 and 0.7482, keeping an average minimal positive percentage rate of 0.16.
AUD/USD Market
Key Levels:
Resistance levels: 0.7600, 0.7700, 0.7800
Support levels: 0.7400, 0.7300, 0.7200
AUD/USD – Daily Chart
The AUD/USD daily chart showcases the currency pair market results in a range motion at the upper resistance trading spot within the bullish channel trend lines drawn. The 14-day SMA indicator is above the 50-day SMA indicator. And they are underneath the SMA trend lines. The Stochastic Oscillators are in the overbought, trying to bend southbound against the range of 80. That signifies that a downward force is imminent.
Will the AUD/USD trade push more to the upside as the currency pair market operation results in a range motion?
There is currently a bullish candlestick in the making, signifying that upward pressure is somewhat going on as the AUD/USD market operation results in a range motion. Buying pressures have to intensify in the consolidation moving manner around 0.7500 will let the price approach a high resistance at 0.7600. A pit stop is bound to occur if that presumption eventually plays out.
On the downside of the technical analysis, the AUD/USD market bears are to be on the lookout for price rejection around the resistance trading line below 0.7600A bearish candlestick against the lower bullish trend line to occur before considering a sell order.
The analytics, at a glance, would be that the subsequent formation of the candlestick has to form, favoring either side to confirm the direction around 0.7500. Sellers may have to be on the lookout for decent entry around the 0.7600 resistance line when the market is likely to return for a drawdown.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart showcases the currency pair market results in a range motion. The range motions are featured underneath the higher resistance at 0.7550 in the medium-term run. The 14-day SMA indicator is above the 50-day SMA indicator. The Stochastic Oscillators are attempting to move into the overbought region. Traders would have to wait for active price action to the upside to observe a decent sell entry when the price shows a significant reversal mode from a high level.
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.
Leave a Reply