AUDUSD Price: Bull May Continue to Dominate Market

Bears oppose bulls at $0.66 level

AUDUSD Price Analysis – 12 June

If buyers are determined enough to push past the $0.66 barrier, they might be able to raise AUDUSD to about $0.67 or even $0.68.  If sellers are successful in driving the price below the $0.65 support level, the price may fall to the $0.64 and $0.63 support levels.

Key levels:

Resistance levels: $0.66, $0.67, $0.68

Support levels: $0.65, $0.64, $0.63

AUDUSD Long-term Trend: Bullish

AUDUSD value shows an inclination on the daily chart. The beginning of a bullish trend for the currency pair was signaled by a large bullish candle that appeared on March 6. Because of the bulls’ efforts, the price increased by $0.66. When sales started to decline, the price was lowered from the first quoted figure to $0.62.  The AUDUSD breaks above the $0.65 resistance level. It is getting extremely close to $0.66 and is still declining. The market’s performance today confirms yesterday’s prediction that the bulls will stage a rally.

When the currency pair clears the Hull Suite forex signals indicator, the market is considered bullish. A buy forex signals is displayed when the blue histogram of the QQE MOD indicator is above the zero level. If buyers are determined enough to push past the $0.66 barrier, they might be able to raise the price to about $0.67 or even $0.68.  If sellers are successful in driving the price below the $0.65 support level, the price may fall to the $0.64 and $0.63 support levels.

AUDUSD medium-term Trend: Bullish

The 4-hour chart of the Australian dollar indicates an upward trend. The currency pair’s movement was confined for more than three weeks by the $0.66 barrier level. The range of prices is $0.66 to $0.65. Further bullish candles burned as the price began to soar above the dynamic barrier level. The 4-hour candle that closed at $0.65 yesterday appears healthy on the chart. If the previous level is surpassed, an inclination trend starts to emerge.

I believe that the AUDUSD market may continue to move higher. Both the blue histogram and the QQE MOD, which are both above zero, show a positive trend.

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