Buyers’ momentum increase in AUDUSD market
AUDUSD Price Analysis – 02 April
Buyers may be able to drive AUDUSD up to roughly $0.67 or possibly $0.68 if they are persistent enough to break through the $0.66 barrier. The price may drop to the $0.64 and $0.63 support levels if sellers are successful in pushing the price below the $0.65 support level.
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 value of AUDUSD is increasing. A sizable bullish candle formed on March 06, indicating the start of a bullish trend for the currency pair. The bulls’ drive pushed the price higher by $0.66. Sales began to slow down, and prices fell from the originally indicated amount to $0.65. The AUDUSD breaks through the level of support. It continues to decline, approaching $0.64 level. Yesterday and today’s market indicates the return of the bulls.
The market is deemed bullish when the currency pair crosses above the Hull Suite forex signals indicator. When the QQE MOD indicator’s red histogram is below the zero level, a buy forex signal is shown. Buyers may be able to drive the price up to roughly $0.67 or possibly $0.68 if they are persistent enough to break through the $0.66 barrier. The price may drop to the $0.64 and $0.63 support levels if sellers are successful in pushing the price below the $0.65 support level.
AUDUSD medium-term Trend: Bullish
The Australian dollar’s 4-hour chart shows an inclining trend. The $0.66 barrier level restrained the currency pair’s movement for over three weeks. Prices range from $0.66 to $0.65. There were more bearish candles created, and the price started to drop below $0.65. Yesterday’s 4-hour candle ended above $0.65, signifying a bullish candle on the chart. A trend towards incline is formed if the level that was previously specified is exceeded.
I believe there’s a possibility the AUDUSD market may continue northward. The QQE MOD, which is above zero, and the blue histogram both indicate a positive trend.
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