AUDUSD Market Might Continue to Drop

Bears effort cause AUDUSD market to fall

AUDUSD Price Analysis – 20 November

If customers are driven enough to surpass the $0.64 barrier, they could be able to reduce the price to about $0.63 or even $0.62. If buyers are successful in pushing the price above the $0.65 resistance level, prices may rise to the $0.66 and $0.67 resistance levels.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.64, $0.63, $0.62

AUDUSD Long-term Trend: Bearish

On the daily chart, the value of the AUDUSD is declining. The start of a bearish trend for the currency pair was indicated by the appearance of a sizable bearish candle on October 1. The bears’ efforts caused the price to fall by $0.67. The price had fallen from the initial projection to $0.66 by the time sales began to fall. The AUDUSD price broke over the barrier at $0.67. The $0.69 barrier remained stationary. The market retreated to test the $0.66 support level last week. The current situation supports the bears’ prognosis of a successful slide to $0.64.

A sell forex signal is indicated when the histogram of the red QQE MOD indicator drops below zero. If customers are driven enough to surpass the $0.64 barrier, they could be able to reduce the price to about $0.63 or even $0.62. If buyers are successful in pushing the price above the $0.65 resistance level, prices may rise to the $0.66 and $0.67 resistance levels. The market is deemed bearish when the currency pair clears the Hull Suite forex signals indicator.

AUDUSD medium-term Trend: Bearish

The Australian dollar’s 4-hour chart shows a declining trend. The $0.69 barrier level held back the currency pair’s movement for two more weeks. The range of prices was $0.68 to $0.67. Last week, as the price started to decline below the dynamic barrier level, more bearish candles burned. On the chart, the 4-hour candle that closed below $0.67 last week looks to be negative. If the previous mobility barrier has been eliminated, the decreasing tendency can continue.

The AUDUSD market might continue to drop, in my opinion. The QQE MOD and the red histogram both exhibit a downward trend and are below zero.

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