AUD/USD Price Prediction – September 12
There has been a change of direction against the recent downward-trending forces in the AUD/USD market operations as the fiat pair price has embarked upon a high push. Price is trading around 0.6881 at an average minute percentage rate of 0.57.
AUD/USD Market
Key Levels:
Resistance levels: 0.7000, 0.7100, 0.7200
Support levels: 0.6700, 0.6600, 0.6500
AUD/USD – Daily Chart
The AUD/USD daily chart portrays the currency pair price has embarked upon a high push, having had the chance to have built support around the 0.6700 trading level in the recent operations. On September 9th, a bullish candlestick emerged to signal the start of the upward motions as now another bullish candlestick is taking form against the trend line of the smaller SMA. The 50-day SMA indicator is at 0.6978 above the 14-day SMA indicator, which is at the 0.6871 value line. The Stochastic Oscillators have crossed from the oversold region to reach the range points of 35.44 and 58.26.
Will the AUD/USD market extend moves beyond the 0.7000 resistance in its current trading cycle?
It is likely the AUD/USD market bulls to extend moves beyond the 0.7000 resistance level if the bears’ force remains inactive for some time, as it has been that the currency pair price has embarked upon a high push for a couple of days back. Buyers have the brighter hope of keeping the moves through some other higher resistances in a few days to come from now.
On the downside of the technical, selling activities have to suspend against the pace of the current high-pushing forces. It would be technically ideal to await the reading outcome of the Stochastic Oscillators in the overbought region before considering a re-launch of the selling order afterward.
The analytics, at a glance, as of the time of writing, the AUD/USD market bulls have a better prevalence chance to ride higher against the valuation of the counter coin at least briefly past the 0.7000 resistance in the subsequent sessions.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart reveals the currency pair price has embarked upon a high push that has almost placed over the trend lines of the SMAs. The 14-day SMA indicator is at 0.6808, underneath the 0.6845 value point of the 50-day SMA indicator. The trading outlook depicts the market is yet to push out of a declining force. The Stochastic Oscillators have initially and briefly moved southbound out of the overbought region. And they have now again tried to move back northbound to 72.44 and 77.67 range points. That shows the pressures to the upside are still prevailing in the market.
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