AUD/USD Price Prediction – February 21
The AUD/USD trading activities at a higher notable transactions spot seem not to have been over as the currency pair price pushes northward, touching 0.7200. With an opening balance point of 0.7167, the market has also witnessed a lower value line of about 0.7166, as it keeps a minute positive percentage of about 0.35.
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
The AUD/USD daily chart reveals the currency pair price pushes northward, touching 0.7200 level. The bearish trend line drew slightly southward across the bigger SMA trend line at the end to suggest that the current price upsurges is in a resistance zone. The 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region, moving in a consolidation style. That means a buying force has to play out in the currency pair transactions for a while.
Should traders expect more sustainable upsurges beyond 0.7200 as the AUD/USD market price pushes northward, touching the value-line in question?
Unexpectedly, the AUD/USD market activities will have to maintain sustainable upsurges beyond the 0.7200 line as the price push northward, touching the value line. If the consolidation motion has to hold for a while, the market may reach the 0.7300 resistance before losing back the momentums to the downside.
On the downside of the technical analysis, the AUD/USD market short-position placers have to brace up at this point to spot an active signal reversal of the current price action around the 0.7200 to launch a sell order based on the principle of not over-leveraging a position in their trading approach. It is most likely that the US Dollar will soon regain its stances against the Australian Dollar.
Summarily, the AUD/USD market traders may have to stick around to spot the time that the currency pair price will attempt to make a reversal of its current upsurges to start launching sell orders.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart showcases the currency pair price pushes northward, touching 0.7200. Initially, the market made a heavy convergence around the value line to showcase how critical the spot will be for an upsurge to stage above it for some time. The 14-day SMA is closely above the 50-day SMA, pointing to the north side. A bullish candlestick is in the making against the same point-line as the bearish trend lines drew to mark down a resistance spot that price presently faces. The Stochastic Oscillators are around the range of 20, signifying the need to exercise some degree of cautiousness before launching a short order at this point.
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