AUDUSD market under buyers’ control
AUDUSD Price Analysis – 18 September
Customers may be able to lower the price to roughly $0.65 or even $0.64 if they are persistent enough to get through the $0.66 barrier. AUDUSD may rise to the $0.68 and $0.69 resistance levels if buyers are able to push the price over the $0.67 resistance level.
Key levels:
Resistance levels: $0.67, $0.68, $0.69
Support levels: $0.66, $0.65, $0.64
AUDUSD Long-term Trend: Bullish
The value of the AUDUSD is inclining on the daily chart. A large bullish candle that appeared on August 5 signaled the beginning of a bullish trend for the currency pair. The price increased by $0.66 as a result of the bulls’ efforts. When sales started to decline, the price had gone up from the initial estimate to $0.67. At $0.68, the AUDUSD price broke through the resistance level. The $0.68 barrier remained unbreakable. Last week, the market’s pulled back to retest the $0.66 support level. The current position supports the bulls’ prediction of a positive rally towards $0.68 level.
When the blus QQE MOD indicator histogram is above the zero level, a buy forex signal is shown. Customers may be able to lower the price to roughly $0.65 or even $0.64 if they are persistent enough to get through the $0.66 barrier. Prices may rise to the $0.68 and $0.69 resistance levels if buyers are able to push the price over the $0.67 resistance level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bullish.
AUDUSD medium-term Trend: Bullish
The 4-hour chart of the Australian dollar indicates an upward trend. For more than a week, the $0.68 barrier level limited the movement of the currency pair. The price range was $0.68 to $0.67. More bearish candles burned as the price began to drop below the dynamic barrier level last week. The 4-hour candle that closed at $0.67 last week appears positive on the chart. Should the preceding level of resistance be surpassed, the upward trend may continue.
I believe the AUDUSD market may continue to incline. Both the blue histogram and the QQE MOD, which are both above zero, show a positive trend.
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