AUD/USD Price Prediction – June 13
The resistant-trading point around 0.7200 has proven tough as the AUD/USD market reverses downward as it did during the last May 5th session. Price is trading between 0.7044 and 0.7000 value lines at a minimal negative percentage rate of 0.40.
AUD/USD Market
Key Levels:
Resistance levels: 0.7200, 0.7300, 0.7400
Support levels: 0.7000, 0.6900, 0.6800
AUD/USD – Daily Chart
The daily chart exhibits the currency pair market reverses downward at the 0.7200 resistance level. A tough-resistant trading point appears to have built around the value line against upward movements since early last month around the bigger SMA trend line. The 14-day SMA indicator is underneath the 50-day SMA indicator. A chain of bearish candlesticks has made past the SMAs to the downside. The Stochastic Oscillators have crossed southbound into the oversold region, seemingly trying to dip within it more to indicate a falling pressure is ongoing.
Will the AUD/USD market keeps the downward reverses long beneath the 0.7200??
As it has been from the technical trading approach, the AUD/USD market stands a clearer-cut risk of elongating in its current reversing course, especially if the price runs in consolidation style below the trend line of the smaller SMA for a long. However, any emergence of a bullish candlestick at a lower-trading spot could serve as a warning signal against getting more downs, probably around the 0.6900 support level.
On the downside of the technical analysis, the AUD/USD market operations will still have to be dominated by bearish forces in the wake of elongating underneath the trend line of the 14-day SMA indicator for some time. The current appearance of a bearish candlestick attests that a decline is ongoing in the base currency valuation.
The analytics, at a glance, traders needed to exercise caution in their bids to exert new positions at this point. Sellers should be wary of late entry orders. Long-position players needed to wait for the emergence of a bullish candlestick at a lower-trading spot to confirm if it’ll be enough to launch back a buying order afterward.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart showcases the currency pair market reverses downward after moving close to a point below the 0.7300 resistance level. That shows the main resistant-trading point lies between the 0.7300 and 0.7200. The 14-day SMA indicator has intercepted the 50-day SMA indicator from the top to the south side. Variant bearish candlesticks have occurred sequentially past the SMAs to indicate the price trades around a low line of 0.7012. The Stochastic Oscillators are in the oversold region, moving in a consolidation manner to indicate a downward trending motion is ongoing.
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