AUDUSD Price: Bears Dominate Market

Price declination may continue

AUDUSD Price Analysis – 15 October

If sellers can push the market below the $0.64 support position, prices can drop to the $0.63 and $0.62 support levels. When the currency brace clears the Hull Suite forex signals index higher, the request is deemed bearish.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.64, $0.63, $0.62

AUDUSD Long-term Trend: Bearish

The AUDUSD depreciates daily after testing the $0.67 mark. On April 9, when the currency brace began to increase, a triple bottom chart pattern emerged. The price increased to $0.67 as a result of the bulls’ sweat. The just mentioned level was defended by bears and the price started dropping from the initial estimate to $0.64 by the time transactions began to fail. The AUDUSD price hits the cutoff at $0.64. There has been an update on the $0.63 hedge. This week, the price tested the $0.64 support level before pulled back to $0.65. The bears’ forecast of a sharp fall to $0.63 is supported by the existing circumstances.

A sell forex signal is indicated when the histogram of the red QQE MOD indicator falls below zero. If purchasers are ready to pay more than the $0.65 hedge, the price might be raised to about $0.66 or even $0.67. If sellers can push the market below the $0.64 support position, prices can drop to the $0.63 and $0.62 support levels. When the currency brace clears the Hull Suite forex signals index higher, the request is deemed bearish.

AUDUSD medium-term Trend: Bearish

The Australian bone’s 4-hour chart shows decreasing trend. The $0.67 hedging position held back the currency brace’s movement for over two days. The range of prices was $0.67 to $0.66. This week, as the price started to go below the dynamic hedge position, more bearish candles burnt. On the chart, the 4-hour candle that closed below $0.65 the previous week seemed unstable. However, if the previous movement constraint is removed, the increasing declination can continue.

I think the AUDUSD request might keep falling. The QQE MOD and the red histogram both show a distinct downward trend and are below zero.

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