AUDUSD Stays Under Heavy Selling Pressure Beneath the 0.7030 Level

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


AUDUSD Price Analysis – September 24

The AUDUSD pair extended its recent pullback from levels beyond the 0.7400 mark and experienced some heavy selling for the 5th day in a row. The downward momentum pushed the pair to two-month lows, beneath the 0.7030 level, and may act as a catalyst for a further near-term depreciating move.

Key Levels
Resistance Levels: 0.7413, 0.7285, 0.7150
Support Levels: 0.6921, 0.6684, 0.5506
AUDUSD Long term Trend: Ranging
Technical indicators are almost flashing over-sold conditions on the daily chart as the RSI is on the brink of slipping beneath the 25 marks. In the larger sense, meanwhile, the recovery from the medium-term bottom of 0.5506 level is seen as reversing the entire long-term downtrend from the high level of 1.1079.

There is no validation that it has been finished. A further rise to 38.2 percent retracement from 1.1079 level to 0.5506 (2020 low level) at 0.7620 level until topping might still be expected. That being said, continuous trading beneath the moving averages 5 (now at level 0.7100) may improve the chances that it’ll be completed and shift attention back to low level 0.5506.
AUDUSD Short term Trend: Bearish
The decrease in AUDUSD is now decreasing to as low as 0.7016 level, and intraday bias persists on the downside. The recent decline is seen as a complete growth correction from 0.5506 to 0.7413 levels. As such, AUD/USD appears likely to test the lower levels of horizontal support, presently below the level of 0.70.

At 0.6684 levels, a steeper decrease can be seen at 38.2 percent retracement from 0.5506 to 0.7413 levels. To indicate completion of the plunge, a breach of 0.7150 support turned resistance level is required on the upside. Anything else, even in the event of recovery, the near-term outlook may now stay bearish.

Note: Learn2.trade 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *