AUD/USD Prediction – July 26
The AUD/USD currency price continues declining in the bearish channel trend-lines it set up over a couple of weeks’ sessions. The currency pair’s valuation trades around 0.7346 at a negative percentage rate of about 0.21.
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
It is depicted on the AUD/USD daily trading chart that the bearish channel trend lines have been instrumental in the current trend that the market keeps as the price continues declining. The SMAs are yet lagging as they are far above the trading zone. The 50-day SMA indicator is over the 14-day SMA indicator. The Stochastic Oscillators have moved upward from the oversold region, attempting to close the lines a bit above the range of 40. And, that could, later on, lead to crossing to the southbound to indicate a continuation motion in the current downward trend of the currency pair’s worthiness.
Will there still be an upkeep of the current downtrend by the AUD/USD traders as price continues to decline?
Most of the indicators back the sentiment that the downward force of the currency pair is intact. The market level at 0.7300 had once tested. Most of the indicators back the sentiment that the downward force of the currency pair is intact. The market level at 0.7300 once tested. And, it's to be breached in the next session so that between it and around the lower at 0.7200, bulls may allow exerting a short line of smaller pull-ups around the upper bearish channel trend line. A sudden spike against the level at 0.7400 may potentially spell an end to the current downward trend.
On the downside analysis, the AUD/USD market bears needed to hold their positions very firm at 0.7400 alongside the bearish channel trend-line. The readings of the Stochastic Oscillators suggest that the currency pair market will still witness a falling pressure in about a few hours to come. Therefore, traders are to stay alert looking out for a price action to back their entry.
Summarily, it appears that the AUD/USD market will have to continually be dominated by bearish force at the expense of bulls’ weaknesses. Therefore, a pull-up that eventually hits a resistance point around the upper bearish channel trend-line will suffice the sell signal that bears may again capitalize.
AUD/USD 4-hour Chart
The AUD/USD 4-hour trading chart indicates that price continues declining in the bearish channel trend lines. The upper bearish channel trend-line drew alongside the bigger SMA to locate the higher point that the currency pair’s bulls have been pushing for resistance. The 14-day SMA trend-line is beneath the 50-day SMA trend line as they both point to the south. The Stochastic Oscillators have touched down the lowest range in the oversold region, indicating that prices soon not be pushing southbound strongly for a while. Therefore, traders may stay away from placing further positions for a while.
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