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Buyers increases in number AUDUSD market
AUDUSD Price Analysis – 13 March
If buyers are determined enough to break through the $0.66 barrier, they might be able to push the price up to about $0.67 or even $0.68. If sellers are successful in driving AUDUSD below the $0.65 support level, the price may fall to the $0.64 and $0.63 support levels.
Key levels:
Resistance levels: $0.66, $0.67, $0.68
Support levels: $0.65, $0.64, $0.63
AUDUSD Long-term Trend: Bullish
The daily chart shows that the AUDUSD value is rising. On February 15, a large bullish candle developed, signaling the beginning of a bullish trend for the currency pair. The bears’ pressure caused a $0.63 drop in price. When sales started to gather up momentum, the price dropped to $0.63. At $0.66, a resistance level test was conducted. On February 22, it pulled back to challenge the $0.64 mark. The price is already approaching $0.66, which was the previous high.
When the currency pair rises over the Hull Suite forex signals indicator, the market is considered bullish. A buy forex signal is displayed when the blue histogram of the QQE MOD indicator is above the zero level. If buyers are determined enough to break through the $0.66 barrier, they might be able to push the price up to about $0.67 or even $0.68. If sellers are successful in driving the price below the $0.65 support level, the price may fall to the $0.64 and $0.63 support levels.
AUDUSD medium-term Trend: Bullish
The Australian dollar’s 4-hour chart shows an increasing trend. The $0.65 barrier level restrained the currency pair’s movement for over three weeks. Prices range from $0.64 to $0.63. This morning’s 4-hour candle closed below $0.65, and the chart showed a bullish candle. An upward trend is established if the level that was previously defined is breached.
I believe there’s a possibility the AUDUSD market will continue to rise. The blue histogram and the QQE MOD, both of which are above zero, indicate a bullish trend.
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