

The chart for the Australian Dollar / U.S. Dollar (AUD/USD) on a 4-hour timeframe reveals key insights into its recent price movements. It demonstrates a transition from a prior strong uptrend to a current short-term downtrend. Attention to support and resistance levels is crucial for potential trading strategies.
The chart reveals a strong previous uptrend that peaked and has reversed into a short-term downtrend.
Recent candlestick formations highlight a bearish sentiment with elongated bearish candles, indicating continued selling pressure.
A possible bullish hammer at the low point suggests potential support and a reversal, contingent on future confirmations.
The MACD line is positioned below the Signal line, which underlines bearish momentum.
A recent bearish crossover suggests the likelihood of a continued downward trend.
The MACD histogram remains in negative territory and is expanding, reinforcing the bearish sentiment with strengthening momentum.
Volume remains relatively stable, with no significant spikes, which could indicate a lack of strong conviction in the current downtrend.
There is no notable volume change reflecting institutional activity, suggesting that the recent move lacks robust confirmation.
The current volume configuration implies cautious sentiment within the market.
Support is anticipated around the recent low close to the 0.6900 level, as seen in the hammer candlestick pattern.
Resistance is likely near the 0.7000 level, previously acting as a breakout failure point and a psychological barrier.
Monitoring these key levels is essential for strategizing future trades.
Consider buying if there is confirmed support at 0.6900, marked by bullish signals such as increased volume or specific candlestick patterns.
The current momentum suggests selling rallies near resistance around 0.7000, unless bullish indicators emerge.
If a short position is already held, maintaining it might be prudent until decisive bullish signs appear.



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Secured By SSL. Copyright © Axia Trade. All rights reserved. 2024
Company Information: This website (www.axiainvestments.com/) is operated by Smarttool Trading SC Limited, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD034. Smarttool Trading SC Limited is located at Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.
Partner company Marketvalley Ltd provides business operation services for Smarttool Trading SC Limited, office address: Archiepiskopou Makariou III, 198 Marinos Court, 1st Floor, Flat/Office 13, 3030, Limassol Cyprus, registration number HE415749.
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Smarttool Trading SC Limited does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Smarttool Trading SC Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Smarttool Trading SC Limited is not a financial adviser.