Skip to content
Trade Ideas

AUDUSD Price Is plummeting

Azeez Mustapha
Updated 2 min read
Article Rating:
Based on 1 vote
Login to rate this article.

Buyers are pressing hard $0.70 barrier point

AUDUSD Price Analysis – 28 January

If purchasers are prepared to spend more than the $0.70 hedging level, the price may rise to roughly $0.71 or even $0.72. However, if sellers can push the price below the $0.68 support level, the market can revert to the $0.66 and $0.65 support levels.

Key levels:

Resistance levels: $0.70, $0.71, $0.72

Support levels: $0.68, $0.66, $0.65

AUDUSD Long-term Trend: Bullish

The AUDUSD pair has been steadily increasing after dropping below $0.65 and then gaining once more. On November 23, an inverted Head and Shoulder pattern emerged, signaling the start of an inclination.

After breaking through the green multi-year resistance, AUDUSD is plummeting.

Update: 75-80% chance of a February rate hike now priced in post-CPI release, with a few banks calling for a hike next week

The price moved to $0.66 due to bullish pressure. As the selling pressure lessened, the price increased to $0.68, where the bulls continued to hold control. The AUDUSD pair is currently back at $0.66. The $0.65 support level has been adjusted. The price tested the $0.66 threshold last week. Bulls expect a big climb to $0.70 given the current position of the market.

AUDUSD Price Bulls Are Struggling to Break Up $0.70 The blue QQE MOD indicator’s histogram rises above zero, suggesting a potential forex purchase opportunity. If purchasers are prepared to spend more than the $0.70 hedging level, the price may rise to roughly $0.71 or even $0.72. However, if sellers can push the price below the $0.68 support level, the market can revert to the $0.66 and $0.65 support levels. If the currency pair rises over the Hull Suite forex signals index, the signal is deemed positive.

AUDUSD medium-term Trend: Bullish

The 4-hour chart shows an increasing trend for the Australian dollar. The $0.66 hedge level controlled the currency pair’s movement for more than two days. The prices were between $0.66 and $0.65. This week, as the price started to rise above the dynamic hedge level, the bullish candles got bigger. The 4-hour candle that closed above $0.66 last week appeared erratic. The upswing may continue if the previous resistance is broken.

AUDUSD Price Bulls Are Struggling to Break Up $0.70

I believe that demand for AUDUSD might be higher. Both the QQE MOD and the blue histogram are above zero and exhibit a clear upward trend.

Start using a world-class auto trading solution

You can purchase Lucky Block here. Buy LBLOCK

More Trade Ideas