AUD/USD Trade Operation Retraces

AUD/USD Prediction – September 13
There has been a sign that the AUD/USD trade operation retraces in its recovery price movements recently embarked. 0.7358 is around the level that the currency pair’s price trades as of writing at a positive percentage rate of about 0.13. There is an intake that the base currency will potentially push to the upside in no time.

AUD/USD Market
Key Levels:
Resistance levels: 0.7500, 0.7600, 0.7700
Support levels: 0.7300, 0.7200, 0.7100

AUD/USD – Daily Chart
The AUD/USD daily chart renewals that the fiat currency-pair trade operation retraces southward from a high level of the trading zone. Between the September 3rd and 7th periods, price touched the bigger SMA trend line on the sell signal side. The 50-day SMA indicator is above the 14-day SMA indicator. The bearish channel trend lines drew helped to observe the critical point at 0.7300 that the market has been able to breach northward. The Stochastic Oscillators have slowly bent southbound to complement the pace at which the market is retracing.
Is there any probability that the AUD/USD price plunge back into bearish trend lines as the trade operation retraces?
There has been no indication that the AUD/USD market will sustainably plunge back into bearish trend lines as the trade operation retraces currently. In the meantime, the market may have to make room for slight downward moves, possibly until about a couple of sessions. While that presumption is so likely ongoing, bulls would have to draw attention to a sign capable of signifying an end to the downward forces so that buy entry order could get its way.

On the downside, the 0.73000 level will serve as the support line the AUD/USD market bears may have to breach southward forcefully. But, only for fast unduly profits. In the light of that playing out, late sell entry will catch up in the bears’ trap. Traders intending to go further on the market to the downside have to exercise some degrees of pre-cautiousness.

Summarily, at this point of price retracement course, the AUD/USD market may still hold down for more slight downs so that price may find support around the lower line. The point around the level of 0.73000 will most likely be where the currency pair tends to regain the momentum to swing back to the way up.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart depicts that the currency pair trade operation retraces southward from around 0.7450 to trade around 0.7350. The 14-day SMA indicator is above the 50-day SMA indicator as the bullish trend line drew beneath the bigger SMA in a supportive manner. The Stochastic Oscillators have moved southbound closer to the range of 20. There can be more smaller-sized bearish candlesticks, denoting a relative continuation in the downward motion. However, short-position takers advised being wary of their presence re-launching.


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