AUD/USD Prediction – July 19
There appears to be a continual positive response of the AUD/USD trade to a bearish trading situation as price falls in the channels. The currency pair trades around the value of 0.7392 at a percentage rate of -0.35.
AUD/USD Market
Key Levels:
Resistance levels: 0.7500, 0.7600, 0.7700
Support levels: 0.7300, 0.7200, 0.7100
AUD/USD – Daily Chart
On the AUD/USD daily chart, the currency pair’s falls in the bearish channels after hitting resistance around 0.7500 level of the upper side. The trading SMAs are over the bearish channel trend lines as the 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators point southbound between the ranges of 80 and 40, indicating that the formation of some of the subsequent candlesticks will potentially be to the downside of the currency pair market in the next session.
Will the AUD/USD market stop declining as price falls in the channels?
It couldn’t now have been the best time to think of a change in the present bearish trading situation of the AUD/USD, especially since the price falls in the channels. There may be strong support for bulls to build upon around the point at 0.7200 at a later session. But, if the market has to find support at an earlier stage, it could be around the support level at 0.7300.
On the downside of technical analysis, the AUD/USD bears needed to keep their position stronger around the level of 0.7400 against any abrupt upswing that the currency pair market may attempt. There may be difficult for the trade to push past the value at 0.7300. In the light of that, the price may feature for a while to cause a kind of less-active trading situation.
In summary, the present trading situation of the AUD/USD market has deep-rooted bearish channels. In other words, it now appears that sell order has dominated the center trading space of the currency pair. Therefore, bulls should keenly be wary of their coming back now in the market operations.
AUD/USD 4-hour Chart
It is also on the AUD/USD medium-term chart that the currency pair’s price falls in the bearish channels. The 14-day SMA trend-line is beneath the 50-day SMA trend-line as the upper bearish channel trend-line drew between them. The Stochastic Oscillators are in the oversold region, pointing toward the southbound to indicate a continued falling force. That portends a critical trading situation for the Australian Dollar pairing with the US currency.
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