AUD/USD Price Prediction – AUGUST 1
It has been that the AUD/USD market price stretches northward to the 0.7000 resistance trading line as it has been keeping a long-upward swinging motion. The currency pair financial book of records has it that price witnessed a high of 0.70316 and a low of 0.69111 at a minute minimal 0.04 percent negative.
AUD/USD Market
Key Levels:
Resistance levels: 0.7050, 0.7150, 0.7250
Support levels: 0.6850, 0.6750, 0.6650
AUD/USD – Daily Chart
The AUD/USD daily chart showcases the currency pair price stretching northward to 0.7000 near the resistance area of the bigger SMA. The 14-day SMA indicator is at 0.69128 underneath the 50-day SMA indicator, which positions at the 0.70456 resistance point. The shorty-bullish trend line drew from the baseline of 0.6700 to conjoin with the smaller SMA at the end. The Stochastic Oscillators have joined within the overbought region, showing that the price is firmer against declining moves.
Will the AUD/USD market surge more sustainably through other higher resistances?
The subsequent trading operations in the AUD/USD market may not witness sustainable positions surging higher through some overhead resistance levels afterward as the price stretches northward to the 0.7000 level. At this point, long-position takers needed to suspend the execution of new buying orders around the bigger SMA.
On the downside of the technical, all seems, getting set for the AUD/USD market bears. Selling forces may soon generate around 0.70456. A sudden hike at the point tends to turn into a correction that can maximally give in back to the downside afterward.
The analytics, at a glance, the overall decision as related to technical thinking supports the AUD/USD market sellers will have the upper hand in the control of the pairing fiat coins, especially if the points of 0.70456 and 0.7050 remain unbroken successfully to the north side.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart shows the currency pair price stretches northward to 0.7000. Noticeably, the price managed to push past the value line briefly in recent times. The 14-day SMA indicator is above the 50-day SMA indicator. The Stochastic Oscillators have moved southbound toward the range of 20. And they are still pointing toward the south direction closely over the range value line. On a contrary signal note, a bullish candlestick has featured, which could lead the market to retest a previous high below or around the 0.7050 resistance level before resuming a downward-trending motion.
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