AUD/USD Price Prediction – October 2
There has been a significant decline in the valuations of the AUD/USD pairing coin as the price trades lower pips below the 0.6500 resistance line. The currency pair market is at an average of about 133 pips difference between the high and low-value lines of 0.65237 and 0.63908, keeping a 1.56% negative.
AUD/USD Market
Key Levels:
Resistance levels: 0.6500, 0.6600, 0.6700
Support levels: 0.6300, 0.6200, 0.6100
AUD/USD – Daily Chart
The AUD/USD daily chart reveals the currency pair price trades lower pips below the 0.6500 resistance level that was serving as the previous support some days ago. All the indicators are above the current trading zone, depicting the market is in an intensely declining mode. The 14-day SMA indicator is at the 0.66758 value line, beneath the 0.68828 points of the 50-day SMA indicator. The bearish trend lines drew southward as even the lower trend line has breached by a bearish trading candlestick. The Stochastic Oscillators have swerved northbound from the oversold region to reach 30.12 and 21.76 range points.
Will the AUD/USD market show more offs to the downside?
The trading outlook in the AUD/USD market yet portends no sign of changing abruptly from declining as the pairing coin’s price trades lower pips below the 0.65000 resistance. Re-buying orders may surface after the completion of the current falling move at a lower-trading zone.
On the downside of the technical, the AUD/USD market bears may still be firm in their stances to push downward further, making the 0.6500 resistance level the retarding point that may stay over some subsequent sell-offs. Traders may resort to using smaller time frames to detect the early resumption of a downward-trending motion.
The analytics, at a glance, bears still appear to have a stance firmer against the trending ability of bulls, especially if the 0.6500 resistance level remains un-breached.
AUD/USD 4-hour Chart
The AUD/USD medium-term chart showcases the currency pair price trades lower pips below 0.6500 after hitting resistance around it. The 14-day SMA indicator is at 0.64854, underneath the 0.66137 value line of the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region to the range values of 64.40 and 36.49., denoting the market may still go down for a while until a rebound occurs.
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