AUD/USD Price Prediction – June 19
The AUD/USD market price keeps a downward reversion slightly below the 0.7000 level. The currency pair’s trading zones are at 0.7051 and 0.6897 value lines for the high and low figures as it maintains a 1.52% negative.
AUD/USD Market
Key Levels:
Resistance levels: 0.7000, 0.7100, 0.7200
Support levels: 0.6800, 0.6700, 0.6600
AUD/USD – Daily Chart
The AUD/USD daily chart reveals the currency pair price keeps a downward reversion at 0.7000. The baseline has been at the 0.6800 support level. The bearish trend line drew above the trading indicators southward, marking the logical points price has been rejecting before running back downward. The 14-day SMA is underneath the 50-day SMA indicator. It showcased that the smaller SMA is at 0.7082, and the bigger SMA is at 0.7184. The Stochastic Oscillators have crossed northbound from the oversold region toward the range of 40. A bearish candlestick is in the making, confirming a falling force is ongoing.
Will the AUD/USD market extend downward reversion beyond the 0.6800 support level??
There can be an extension in the AUD/USD price reversion downward intensely if a gap has to occur to the downside. In the process of that assumption, buyers would have to suspend their re-launching of new positions ordering for a while.
On the downside of the technical analysis, sellers of the AUD/USD trade are to have opened a selling order around the 0.7000 resistance level and managed the position by placing a stop-loss order between the 0.7100 and 0.7200 resistance levels.
The analytics, at a glance, traders are to be on the lookout for the reaction of price toward the downside direction before considering joining. Sellers should be wary of the late execution of orders. And they needed to back up their entries with active price action tends to favor the southward motion.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart shows price keeps a downward reversion beyond the 0.7000 level underneath the SMA trend lines. The 14-day SMA trading indicator is underneath the 50-day SMA indicator. The actual resistant-trading spots under this chart setting suggest 0.6990 and 0.7062 against the subsequent upward sessions if the market will have to rebound in the near medium-term running outward bound. The Stochastic Oscillators have crossed southbound from the oversold region close to the range of 20. Traders should be cautious about launching new orders at this point.
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