AUDUSD Price: Buyers Oppose Further Declination at $0.63 Level

Buyers may dominate AUDUSD market

AUDUSD Price Analysis – 06 March

Buyers may be able to drive the price up to approximately $0.66 or possibly $0.67 if they are persistent enough to overcome the $0.65 barrier.  AUDUSD may drop to the $0.63 and $0.62 support levels if sellers are successful in pushing the price below the $0.64 support level.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.64, $0.63, $0.62

AUDUSD Long-term Trend: Bullish

The AUDUSD value is going higher, according to the daily chart. A sizable bullish candle that formed on 15 February indicated that the currency pair was entering a bullish trend. The price decreased by $0.63 as a result of bears’ prssure. The price dropped to $0.63 as sales picked up steam.  AUDUSD ran a resistance level test at $0.66. It retreated on February 22 to test the $0.64 level. The price is currently rising to its prior high of $0.66.

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A bullish market is indicated when the currency pair rises above the Hull Suite forex signals indicator. When the QQE MOD indicator’s blue histogram is above the zero level, a buy forex signal is shown. Buyers may be able to drive the price up to approximately $0.66 or possibly $0.67 if they are persistent enough to overcome the $0.65 barrier.  The price may drop to the $0.63 and $0.62 support levels if sellers are successful in pushing the price below the $0.64 support level.

AUDUSD medium-term Trend: Bullish

The 4-hour chart of the Australian dollar indicates an upward trend. For more than three weeks, the currency pair’s movement was constrained by the $0.65 resistance level. The range of prices is $0.64 to $0.63. The chart displayed a bullish candle today, and the 4-hour candle ended below $0.65. If the previously defined level is broken, an upward trend is established.

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I think there’s a chance that the AUDUSD market will keep moving up. A bullish trend is shown by the blue histogram and the QQE MOD, both of which are above zero.

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