AUDUSD Price: Bullish Trend Commences at $0.65 Support Level

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Buyers’ momentum increases

AUDUSD Price Analysis – 11 May

AUDUSD may move above the $0.67, $0.68, and $0.69 resistance levels if buyers are successful in holding the $0.66 support level. If sellers get additional momentum, the support level of $0.66 might be broken lower, and the price might subsequently decrease as a result of the downward momentum to levels of $0.65 and $0.63

AUD/USD Market

Key levels:

Resistance levels: $0.67, $0.68, $0.69

Support levels: $0.66, $0.65, $0.63

AUDUSD Long-term Trend: Bullish

AUDUSD is on a bullish movement in the daily chart. On the daily time period, a double bottom chart pattern is developed. The $0.65 level of support was tested on March 7. A bullish engulfing candle pattern is visible at the previous level. This can be a sign of market bulls getting upset. The price rose beyond the reliable $0.66 barrier. The price has overcome the barrier, it advances toward the $0.67 resistance wall. A bullish momentum is struggling to break up the $0.67 level.

The currency pair is attempting to move upward and cross above the 9-period and 21-period exponential moving averages, which suggests a bullish advance. The AUDUSD may move above the $0.67, $0.68, and $0.69 resistance levels if buyers are successful in holding the $0.66 support level. If sellers get additional momentum, the support level of $0.66 might be broken lower, and the price might subsequently decrease as a result of the downward momentum to levels of $0.65 and $0.63.

AUDUSD medium-term Trend: Bullish

AUDUSD is bullish on the 4-hour chart. A couple of weeks ago, the price began to increase and contend with the $0.67 resistance level. The price fell toward the previous low of $0.65 while being supported by sellers near the aforementioned level. Vendors are now stopped by customers even before they enter the market. Price retested the prior low last week, creating a double-bottom chart pattern. The market is dominated by buyers.

AUDUSD is trading slightly above the 9-period and 21-period exponential moving averages. Relative Strength Index period 14 points up at 53 levels, indicating a buy signal.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *