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AUD/USD Market Line Increases to 0.6700

Johnathon Fox
11/13/2022 | UPDATED ON: 11/13/2022

AUD/USD Price Prediction – November 13
As a result of the bullish momentum remaining firm in the AUD/USD trade activities, the currency pair market lines have increased to the 0.6700 level. Price is trading at an average positive percentage rate of 1.28, keeping the bargaining point around 0.67030.

AUD/USD Market
Key Levels:
Resistance levels: 0.6800, 0.6900, 0.7000
Support levels: 0.6350, 0.6250, 0.6150

AUD/USD – Daily Chart
The daily chart reveals that the currency pair market line increases to 0.6700, making efforts to surge past the SMA trend lines. The 50-day SMA indicator is at 0.66647 points above the 0.64594 value line of the 14-day SMA indicator. The horizontal line drew around 0.6200 lower spots to ascertain where the present buying spree sprung. The Stochastic Oscillators are in the overbought region, trying to consolidate at the 88.14 and 88.30 levels to indicate that bullish momentum is relatively uprising.

Will the AUD/USD market continue to strive for long-term gains above the SMAs?
The AUD/USD trade may continue to struggle for long-term gains over the trend lines of the SMAs as the currency pair line increases to 0.6700. If the market experiences a reversal that results in a bearish engulfing pattern at a high-trading zone, bulls will have to place their new entry position order on a checkmate note.

On the technical downside, sellers would have to be alert of less-active motion to the upside coupling active downward moves that can emanate around or between the above resistance value lines stated before executing a sell order.

A short glance at the technical analysis has it on the suggestion note that the AUD/USD market sellers would have to be vigilant to know when there’ll be a correction against the 50-day SMA trend line to observe a shorting order position.

AUD/USD 4-hour Chart
The AUD/USD medium-term chart showcases the currency pair line increase to the 0.6700 high-trading zone. The 14-day SMA indicator is at 0.65391 points over the 0.64471 value line of the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region. And they are at 99.63 and 100 levels. That shows upward pressures are at maximum trading points, suggesting a dicey outcome against seeing more sustainable ups in the following operations.


Note: 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.

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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.

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