AUD/USD Price Prediction – AUGUST 28
The AUD/USD trade operation holds below the 0.7000 line after pushing for a test of it from a lower-trading spot. Presently, the price is trading around 0.6890 at a negative percentage rate of 1.30.
AUD/USD Market
Key Levels:
Resistance levels: 0.7000, 0.7100, 0.7200
Support levels: 0.6750, 0.6650, 0.6550
AUD/USD – Daily Chart
The AUD/USD daily chart depicts that the currency pair trade operation holds below the 0.7000 resistance, following a touch of it while trying to swing upward from a lower value line around 0.6800 level in recent time. The 14-day SMA indicator is at 0.6946, underneath the 0.7019 value line of the 50-day SMA indicator. The Stochastic oscillators have crossed northbound from the oversold region to place at 22.21 and 24.81 range values. They are attempting to close their lines southward.
Will the AUD/USD market push for lows further toward the 0.6700 support level?
The stage seems set for the AUD/USD market operation to push for more lows toward the 0.6700 support level as the currency pair trade operation holds below the 0.7000 resistance level, having experienced a touch. A downward gap may occur to let bears have completion of the declining trend in the near time. If that assumption has to be, buyers need to brace up for launching long orders while price spikes up from a lower zone afterward.
On the downside of the technical, selling activities are on the verge of fading off in the AUD/USD market operations. The forces are carrying bearish signals. But it is dicey to detect a decent selling order entry. Short-position placers should be wary of a bounce-off capable of erasing the bearish candlestick to its maximum point around the 50-day SMA.
The analytics, at a glance, a long-holding of the AUD/USD market trading situation beneath the 0.7000 resistance level will potentially lead the price to a lower-trading zone at the 0.67000 support level before bulls tempt to make a come-back.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart showcases the trade, holding below the 0.7000 resistance level when the market failed to surge northward past it based on what the last 4-hour trading candlestick depicted. The 14-day SMA indicator is at 0.6936 above the 0.6951 value line of the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region, maintaining 51.44 and 31.58 range values.
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