AUDUSD Price: Bearish Trend May Continue Below $0.66 Level

AUDUSD market under sellers’ control

AUDUSD Price Analysis – 11 September

If customers are determined enough to push past the $0.66 barrier, they could be able to decrease AUDUSD to about $0.65 or even $0.64. If buyers are successful in driving the price above the $0.67 resistance level, prices may increase to the $0.68 and $0.69 resistance levels. The market is regarded as bearish when the currency pair clears the Hull Suite forex signals indicator.

Key levels:

Resistance levels: $0.67, $0.68, $0.69

Support levels: $0.66, $0.65, $0.64

AUDUSD Long-term Trend: Bearish

On the daily chart, the AUDUSD is falling in value. The start of a bullish trend for the currency pair was indicated by a sizable bullish candle that emerged on August 5. The efforts of the bulls resulted in a $0.66 price increase. The price had increased from the first estimated amount to $0.67 when sales began to decline. The price of AUDUSD reached the resistance barrier at $0.68. The $0.68 barrier could not be broken. The current position of the market backs up the bears’ call for a bearish rally to the $0.66 level from yesterday.

A sell forex signal is displayed when the red QQE MOD indicator histogram is below the zero level. If customers are determined enough to push past the $0.66 barrier, they could be able to decrease the price to about $0.65 or even $0.64. If buyers are successful in driving the price above the $0.67 resistance level, prices may increase to the $0.68 and $0.69 resistance levels. The market is regarded as 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 decreasing trend. The $0.68 barrier level restrained the movement of the currency pair for over a week. There was a $0.68 to $0.67 pricing range. As the price started to fall below the dynamic barrier level, more bearish candles burned. On the chart, the 4-hour candle that ended at $0.67 last week looks pesimistic. If the previous current support level is exceeded, the decreasing tendency can carry on.

I think we could see more decreases in the AUDUSD market. A negative trend can be seen in both the red histogram and the QQE MOD, which are both below zero.

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