Buyers’ momentum may increase
AUDUSD Price Analysis – 03 May
When buyers are successful in holding the $0.66 support level, AUDUSD may rise above the $0.67, $0.68, and $0.69 resistance levels. The support level of $0.66 may be broken lower if sellers gain more traction, and the price may then drop 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. The formation of a double bottom chart pattern is noticed on a daily time frame. On March 7, the $0.65 level of support was tested. At the level before, a bullish engulfing candle pattern can be seen. This may indicate that market bulls are becoming agitated. Price increased past the solid $0.66 barrier. When it gets past the obstacle, it moves closer to the $0.67 resistance wall. The price may commence a bullish trend soon.
The currency pair is currently trying to cross the upside of the 9-period and 21-period exponential moving averages, indicating a bullish movement. When buyers are successful in holding the $0.66 support level, AUDUSD may rise above the $0.67, $0.68, and $0.69 resistance levels. The support level of $0.66 may be broken lower if sellers gain more traction, and the price may then drop 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. Prior to a few weeks ago, the price started to rise and challenged the $0.67 resistance level. The price was maintained by sellers at the aforementioned level and it declined toward the previous low of $0.65. Customers now stop vendors before they even approach the market. Last week, the price retested the previous low to form a double-bottom chart pattern. The buyers may dominate the market.
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.