AUDUSD Price: An Inclination may Continue Above $0.66 Level

Bulls are dominating market

AUDUSD Price Analysis – 26 June

If buyers are determined enough to push past the $0.67 barrier, they might be able to raise the price to about $0.68 or even $0.69.  If sellers are successful in driving the price below the $0.66 support level, prices may fall to the $0.65 and $0.64 support levels.

Key levels:

Resistance levels: $0.67, $0.68, $0.69

Support levels: $0.66, $0.65, $0.64

AUDUSD Long-term Trend: Bullish

The daily chart shows an inclination in the value of AUDUSD. 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 amount to $0.62. The AUDUSD breaks above the $0.65 barrier level. It is still inclining and getting very close to $0.67. The market’s performance today confirms yesterday’s bulls’ prediction that there would be a rally.

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When the currency pair clears the Hull Suite forex signals indicator, the market is seen as bullish. A buy forex signal is displayed when the blue QQE MOD indicator histogram is above the zero level. If buyers are determined enough to push past the $0.67 barrier, they might be able to raise the price to about $0.68 or even $0.69.  If sellers are successful in driving the price below the $0.66 support level, prices may fall to the $0.65 and $0.64 support levels.

AUDUSD medium-term Trend: Bullish

The 4-hour chart of the Australian dollar indicates an upward trend. For more than three weeks, the $0.66 barrier level limited the movement of the currency pair. 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 $0.66 yesterday appears healthy on the chart. If the previous level is surpassed, an inclination trend can continue.

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

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