AUD/USD Price Keeps in Recovery Channels

AUD/USD Prediction – December 27
The AUD/USD price keeps in recovery channels after notable slight reverses in the last couple of trading sessions. . The currency pair trades averagely around 0.7240 at a smaller positive percentage rate of about 0.24.

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
It shows on the AUD/USD daily chart that the currency pair price keeps in recovery channel trend lines after variant candlesticks showcasing a line of price corrections within. There is a psychological range-space between the two indicators as the 14-day SMA trend line is at 0.7200 underneath the 50-day SMA trend line which is at 0.7300 resistance level. The Stochastic Oscillators are in the overbought region, moving in a consolidation style to signify that some upward pressures are in force.
Will the AUD/USD market thrive, surging higher more as the currency pair price keeps in recovery channels?
The AUD/USD market has to put more effort to prolong consolidation moving style above the trending level of the 14-day SMA to obtain higher values as the currency pair keeps in recovery channels. The SMA indicator has to serve as the tool to determine an early pivotal support line that price has not to breach fearfully to the downside to allow bulls to run sustainably.

On the downside of the currency pair technical analysis, the AUD/USD bears may have to wait, getting to see a significant resistance trading condition closely near the trend line of the 50-day SMA before deeming it fit to launch a sell order. In the long run of seeing the market pushing down against the zone of the smaller trend line, it means a low point around a previous value will have to revisit afterward.

In summary, traders have to be cautious of their position entering at this time. Despite an indication has had it that the AUD/USD market has reached an overbought trading condition doesn’t mean that price cannot push higher more.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart reveals that the currency pair price keeps in recovery channels. The 14-day SMA trend line is above the 50-day SMA trend line. Several 4-hour candlesticks have formed ups and downs on the buy signal side of the smaller indicator. The Stochastic Oscillators have crossed the lines northbound from the oversold region against the range of 20. That signifies that some buying forces are ongoing. Meanwhile, the key resistance level at 0.7300 is in the waiting. A breakout of it may not achieve for sustainability in the long run.


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