AUDUSD May Retest Previous Low at $0.63 Level

Further decrease in AUDUSD market envisaged

AUDUSD Price Analysis – 04 December

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.

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 $0.65. The price had fallen from the initial estimate to $0.64 by the time sales began to plummet. The AUDUSD price recovered from the barrier at $0.67. The $0.69 barrier remained stationary. The market retreated to test the $0.65 support level last week. The current situation supports the bears’ prognosis of a successful slide to $0.64.

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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 over two 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 limitation is lifted, the downward tendency can continue.

.63 Level" width="1281" height="573" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/12/4-hours-10.png"/> 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.