AUD/USD Price Prediction – January 24
There have been variant slow-surging motions in the AUD/USD trading activities over a couple of sessions as the currency pair market wallows in recovery trend lines until now. With today’s opening trade balance of 0.7171, the price has witnessed a higher point of about 0.7187, keeping the opening figure as the lower value line, as of writing at a percentage rate of about 0.14 positives.
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 the currency pair market wallows in recovery trend lines. The upper bullish recovery channel trend line strategically drew across the SMAs. The 14-day SMA indicator is underneath the 50-day indicator. A trading candlestick is taking a form around 0.7200 to determine the next direction pace of the market where the lower bullish recovery channel trend line is. The Stochastic Oscillators are located closely above the range of 20. That indicates the possibility of the currency pair trade losing more, on a gradual style.
Will the AUD/USD trade return more aggressively downing as the currency pair market wallows in a recovery trend?
Being as it is, the AUD/USD trade appears to be putting on a kind of convergences around 0.7300 level to give way to a free fall-off afterward as the currency pair market wallows in a recovery trend presently. It seems to be hard for the market-northward movers to regain their strengths if a sudden breakdown eventually occurs at 0.7200. Therefore, buyers should be wary of their actions at that spot.
On the downside of the technical analysis, the AUD/USD market short-position takers needed to consolidate in their southward-pushing efforts around the trend line of the 14-day SMA. A sudden spike will create another round of the price trying to revisit a resistance spot the 0.7300. In the meantime, the market has seemed sitting around 0.7200, trying to overburden it with depression.
Summarily, less upward energy has featured in the AUD/USD market operations over a couple of sessions. As a result, traders needed to keep looking for when an upward momentum loses out at a higher trading spot before exerting a selling order.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart reveals the currency pair market wallows in recovery trend lines. The bullish channel trend lines are to embody the SMA indicators. The 14-day SMA trend line has moved southward to align with the 50-day SMA trend line at the top above the current trading situation of the market. The Stochastic Oscillators are in the oversold region with their lines conjoined within it. A smaller bullish candlestick has occurred around the lower bullish trend line to signify the potentiality of seeing the base instrument attempting to make a push against its counter-trading tool. If an upward motion has to be afterward, 0.7150 will have not to breach the south sustainably.
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