AUD/USD Price Prediction – April 11
An overbought trading condition has led the AUD/USD market operation to be unable to push higher past some resistant trading lines lately. Based on that, the currency pair trade reverts to correction, having hit a resistance beneath the 0.7700, making the transactions currently taking between 0.7465 and 0.7417 value-lines as of writing.
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 reveals the currency pair trade reverts to a correction, hitting a resistance beneath the 0.7700 trading level. The 14-day SMA indicator is above the 50-day SMA indicator. The emergence of variant bearish candlesticks features serially downward closer over the smaller SMA trend line. The Stochastic Oscillators are dipped into the oversold region to raise a warning against getting reliable new entries for fresh downs in the subsequent sessions.
Will the current drawdown outlook in the AUD/USD market operations lead to a bearish trend returning process afterward as the trade reverts to a correction?
The current drawdown outlook in the AUD/USD market operations appears not to have the ideal catalyst to nudge the direction of price into a bearish-trending motion as the currency pair trade reverts to a correction, having hit a resistance beneath 0.7700. The situation has led price into an oversold condition that buyers may have to regain their stances around 0.7400 or a bit lower level toward 0.7300 during the subsequent sessions.
On the downside of the technical analysis, the AUD/USD market sellers will have to hold the trading trait firmly in a consolidation state around the trend line of the 14-day SMA to get more downs. The occurrence of a bullish candlestick at a lower support trading level will potentially lead price to rebound against further downs in no time.
The analytics, at a glance, the AUD/USD traders should be wary of joining the correctional motion to the south, especially the 14-day SMA trend line breaches to the downside, as there can be a rebounding motion following it almost immediately finding support at a lower spot.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart shows the currency pair trade reverts to a correction, hitting a resistance beneath 0.7700. The 14-day SMA indicator has bent southward closely above the 50-day SMA indicator. The bullish trend lines drew to keep the expectation of seeing the market getting a rebound in the near time. The Stochastic Oscillators are in the oversold region, slantingly moving in a consolidation manner toward the northbound within. That signifies the buyers are taking time to make a comeback soon.
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