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AUD/USD Price Precipitates Slowly to 0.6800 Support

Johnathon Fox
07/03/2022 | UPDATED ON: 07/03/2022

AUD/USD Price Prediction – July 3
The AUD/USD market may rise back for recoveries in the near time as the currency pair price precipitates slowly to the line at 0.6800. Price is trading about fifteen pips above the value line at a negative percentage rate of 1.24 as of writing.

AUD/USD Market
Key Levels:
Resistance levels: 0.6900, 0.7000, 0.7100
Support levels: 0.6700, 0.6600, 0.6500

AUD/USD – Daily Chart
The AUD/USD daily chart shows the currency pair price precipitates slowly to the previous 0.6800 support level. The 14-day SMA indicator is underneath the 50-day SMA indicator. The bearish trend line intently drew southward to conjoin with the bigger SMA at the end tail. The Stochastic Oscillators are around the 55 range, seemingly trying to cross back southbound. Indicators suggest the possibility of getting more lows in the subsequent sessions.
Is it technically ideal to start buying orders now in the AUD/USD market?
It may not be technically ideal to begin buying orders now in the AUD/USD market operations as the currency pair price precipitates slowly to the 0.6800 level. There can be a slight downward gap at the commencement of the next trading day to allow the price to find decent support.

On the downside of the technical analysis, the AUD/USD market sellers have to exert more force to push the price past the 0.6800 level into some other support points. Any sharp bounce-off in the process may nullify the pressures to the downside; especially if it has to occur around the value line mentioned earlier.

The analytics, at a glance, the AUD/USD market tends to push downward for little lows through some supports below 0.6800 to get a basis to swing high back in the long-term run.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart reveals the currency pair price precipitates slowly to the 0.6800 level. It also shows the value line had earlier breached southward over a short period before swinging against it. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have dipped into the oversold region. But, they are seemingly attempting to cross their lines northbound closely around the 20 range. That signifies that traders may go for a buying order with minimal usage of lot sizes. And they should take to the principle of proper money management.

Note:Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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