AUDUSD Price May Commence A Bullish Trend

Azeez Mustapha

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Bulls are gathering momentum

AUDUSD Price Analysis – 19 June

It may be possible for purchasers to drive the price up to roughly $0.68 or possibly $0.69 if they are persistent enough to break over the $0.67 barrier.  AUDUSD may drop to the $0.65 and $0.64 support levels if sellers are successful in pushing the price below the $0.66 support level.

Key levels:

Resistance levels: $0.67, $0.68, $0.69

Support levels: $0.66, $0.65, $0.64

AUDUSD Long-term Trend: Bullish

The value of AUDUSD is inclined on the daily chart. A sizable bullish candle that emerged on March 6 indicated the start of a bullish trend for the currency pair. The bulls’ efforts resulted in a $0.66 gain in price. The price was reduced from the first quoted number to $0.62 when sales began to fall.  The resistance level of $0.65 is breached by the AUDUSD. It is continuing falling and approaching very near to $0.66. The way the market has performed today supports the bulls’ prognosis from yesterday that there will be a rally.

AUDUSD Price May Commence A Bullish Trend

The market is viewed as bullish when the currency pair clears the Hull Suite forex signals indicator. When the blue QQE MOD indicator histogram is above the zero level, a buy forex signals is shown. It may be possible for purchasers to drive the price up to roughly $0.68 or possibly $0.69 if they are persistent enough to break over the $0.67 barrier.  Prices may drop to the $0.65 and $0.64 support levels if sellers are successful in pushing the price below the $0.66 support level.

AUDUSD medium-term Trend: Bullish

The Australian dollar’s 4-hour chart shows an increasing trend. The $0.66 barrier level restrained the movement of the currency pair for over three weeks. Prices range from $0.66 to $0.65. As the price started to rise over the dynamic barrier level, more bullish candles burned. On the chart, the 4-hour candle that closed at $0.65 yesterday looks healthy. When the prior level is exceeded, an inclined trend may begins to show.

AUDUSD Price May Commence A Bullish Trend

AUDUSD market might continue to rise, in my opinion. A positive trend can be seen in both the blue histogram and the QQE MOD, which are both above zero.

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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.

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