AUD/USD Market Declines at 0.7300

AUD/USD Prediction – November 22
It still appears that the AUD/USD market declines slightly at 0.7300, establishing that the currency pair price is yet to find a strong support trading line. The market trades around 0.7252 at a relatively smaller-percentage rate of about 0.35 positive.

AUD/USD Market
Key Levels:
Resistance levels: 0.7400, 0.7500, 0.7600
Support levels: 0.7200, 0.7100, 0.7000

AUD/USD – Daily Chart
The AUD/USD daily chart shows that the fiat currency pair market declines on a lighter note at 0.7300 level. The 50-day SMA trend line is above the 14-day SMA trend line. And, variant trading candlesticks feature at a far lower spot beneath the SMA indicators. The bearish channel trend lines are also relevant to the business activities until now. The Stochastic Oscillators are in the oversold region with the lines conjoined in it to consolidate. That signifies that the market has not had a reliable upswing from the current down turning zone, approaching the 0.7200 support level.
Will the AUD/USD business operations consolidating at a lower zone lead to more downturns as the currency pair market declines at 0.7300?
It is unlikely that the AUD/USD business operation may not sustainably push lowering further beyond the 0.7400 support line as the currency pair market declines at 0.7300 level. An indication currently suggests that the trade has moved into a notable oversold trading condition that signals going southward of the operation is probably unsafe. Long position takers are on the lookout for a rallying motion before considering a re-launch of buy orders.

On the downside of the technical analysis, the AUD/USD market bears may, at this point, have to suspend launching further of short position entries. The reading of the Stochastic Oscillators in the oversold region signifies that the market has been consolidating to average a lower support level at 0.7200. Going by the downward-pressure pace, the value line will remain the pivotal support level that price may not eventually breach down for more downs.

Summarily, the more downward pressures toward or around the lower support level at 0.7200 will most likely allow the AUD/USD market operation to find a stance to re-build its long position entry formation. Based on that assumption, traders may have to get poised for long position orders in the near time.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart exhibits that the currency pair market declines at 0.7300 as the smaller SMA indicator trends lower against the value line. The 50-day SMA indicator is above the 14-day SMA indicator. The upper bearish channel trend line drew alongside the smaller SMA trend line as the lower bearish channel trend line briefly, approaching the level at 0.7150 support level. The Stochastic Oscillators have crossed the lines northbound from the range of 40, extending the lines closely beneath the range 80. That indicates that some buying intrigues are in the loom.


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