AUD/USD Prediction – October 25
The AUD/USD market operation moves in bullish channels as the currency pair price trades around 0.7498. The fiat currency percentage rate of trading is at 0.43 positive. The base coin is striving at pushing the position against the counter-trading instrument as of writing.
Resistance levels: 0.7600, 0.7700, 0.7800
Support levels: 0.7300, 0.7200, 0.7100
AUD/USD – Daily Chart
The AUD/USD daily chart showcases that the market operation moves in bullish channel trend lines to show the paths of price recovery motion. Despite the upward pressures, the 14-day SMA indicator is closely beneath the 50-day SMA indicator, pointing toward the north around the level of 0.7400. The Stochastic Oscillators have briefly moved southbound across the range of 80. And, they now seemingly are trying to close the lines a bit below the range value line. That suggests the need that traders may have to exercise some degrees of trade pre-cautiousness.
Should traders focus more on looking for buying entry than selling signs as the AUD/USD market operation moves in bullish channels?
It presently appears that the pressures to the upside are getting heightening as the AUD/USD market operation moves in bullish channel trend lines. As a result, it would be technically ideal that buyers continue to watch out for decent buying entries either in the channels or around the buy signal side of the bigger SMA indicator. However, a sudden breakdown at 0.7400 may lead to re-settling the market for variant retracement processes.
On the downside, the 0.7500 market line appears to be the crucial trading zone that the AUD/USD market sellers will have to intensify their efforts at rebuilding their presence. The emergence of a bearish candlestick on October 21 has put a mark that there is a probability that the market may not smoothly surge northward further beyond the next resistance level at 0.7600. If that assumption eventually runs out correctly, it means selling pressures will dominate the trading situation.
Summarily, as of writing, trading around the level of 0.7500 signifies that traders needed to be cautious of their entries, especially while no or less-active motions are in place. Retracement price motions may soon feature below the resistance level at 0.7600, while buyers tend to relax in their pushing efforts.
AUD/USD 4-hour Chart
The AUD/USD 4-hour chart depicted that the currency pair market operation moves around the bullish channel trend lines as there has been a clearer that a price retracement took place to find support at the lower bullish channel trend line. The 50-day SMA indicator is underneath the 14-day SMA indicator. The Stochastic Oscillators are consolidating around the range of 20, also dipping southbound in the oversold region. But, they are now crossing the lines briefly against the range value line, pointing to the north. It means that the Australian Dollar is striving to hedge against the US Dollar.
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AUD/USD Prediction – October 25