AUD/USD Price Prediction – May 22
In recent times, the AUD/USD market experienced a significant decline in its valuation. The currency pair price now swings upward for recovery as it is still seen under a bearish trading setting between 0.7073 and 0.7002 trade points, maintaining a minute negative percentage rate of 0.10.
AUD/USD Market
Key Levels:
Resistance levels: 0.7200, 0.7300, 0.7400
Support levels: 0.6900, 0.6800, 0.6700
AUD/USD – Daily Chart
The AUD/USD daily chart reveals the currency pair price swings upward for a recovery underneath the sell signal settings of the SMAs. A line of a sequential bullish candlestick is emanating toward the 14-day SMA indicator below the 50-day SMA indicator. The bearish channel trend lines drew southward to ascertain the market’s boundaries to the downside. The Stochastic Oscillators have moved northbound closer to the range of 80. And they are seemingly attempting to close their lines soon.
Will the AUD/USD trade push further northward through the SMAs’ resistances soon?
The possibility of the AUD/USD market pushing northward further through the SMAs’ resistance levels appears dicey. There may soon be around of ranging motions for a while closely under the trading arena of the 14-day SMA. Therefore, while that presumption is materializing, long-position takers are to stay off for some time to avoid bulls’ trap afterward.
On the downside of the technical analysis, the bullish momentum gathering may soon lose the velocity in the near term trading around the points at 0.7000 and 0.7100. The real-time resistance level is around 0.7200. A sudden false breakout around the value point will lead to a downward-returning moment.
The analytics, at a glance, the AUD/USD market operations currently appear, heading toward an overbought trading condition that is liable to give birth to a downward-returning movement from a high point of around the 0.7200 resistance level afterward.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart reveals the currency pair price swings upward for a recovery. Some candlesticks have converged around the positioning area of the SMAs to denote the possibility of the duo coins giving in back to a downward-trending motion in no time. The 14-day SMA has briefly swerved northward closely beneath the 50-day SMA. The Stochastic Oscillators are closer beneath the range of 80, trying to cross their lines southbound. A firm barrier to getting more ups is around 0.7100 and 0.7200.
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