• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

AUDUSD May Fall to Lower Support at 0.6650

Johnathon Fox
04/11/2023 | UPDATED ON: 04/11/2023

After price action in the AUDUSD market hit the 0.6797 mark during seven sessions, it appears that price action triggered a lot of short orders. Consequently, this causes the pair’s price to fall below the 0.6692 market price. Let’s further examine the price movements in this market to know where prices may head.

Major Price Levels:
Top Levels: 0.6669, 0.6685, and 0.6725
Floor Levels: 0.6649, 0.6619, and 0.6600

AUDUSD Seems Ready to Retrace Resistance at 1.3560

AUDUSD Stays Depressed Below the Price Level of 0.6692

On the daily market, the AUDUSD price action seems to be consolidating below the price mark of 0.6692. At this point, the last price candle is bearish, which shows that traders are going short on this pair. Also, the Moving Average Convergence Divergence (MACD) indicator curve has done a bearish crossover at the sub-0.00 level. Meanwhile, the applied Relative Strength Index (RSI) lines are still sliding into the oversold region. All the signs observed from trading indicators on this front show that the pair remains bearish and prices may fall lower.

AUDUSD Seems Ready to Retrace Resistance at 1.3560

Is AUDUSD Quietly Gaining Momentum?

On the AUDUSD 4-hour market, it appears that in the past three trading sessions, traders have gathered some minimal profits. However, since the previous trading session until now, short orders have started going on. Consequently, this has pushed the price back below the 0.6675 price level. This has placed the AUDUSD’s current price below the middle band of the Bollinger Bands indicator. Nevertheless, the RSI and MACD indicators are still portraying much of the past price upside move. The bars of the MACD stayed green up until the ongoing session. Meanwhile, the RSI leading curve is reflecting the recent losses as it is bent sideways in an attempt for a bearish crossover. The best approach here is to lie in wait for any developments. Traders can place an entry at the 0.6695 price mark for any favorable development..

Do you want to take your trading to the next level? Join the best platform for that here.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « Lucky Block Price Prediction: LBLOCKUSD Price May Bounce Up to the $0.02000 Supply Level Soon
Next Post: Dash 2 Trade (D2T) To Rise From $0.032 »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US