Buyers’ momentum is increasing
AUDUSD Price Analysis – 05 April
In case buyers are successful in holding the $0.66 support level, AUDUSD may incline above the $0.67, $0.68, and $0.70 resistance levels. The support level of $0.66 may be broken lower when sellers gain more traction, and the price may then decline 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, $0.70
Support levels: $0.66, $0.65, $0.63
AUDUSD Long-term Trend: Bullish
AUDUSD is on a bullish movement in daily chart. On 07 March, the support level 0f $0.65 was tested. At the same level as before, a bullish engulfing candle pattern is visible. This might indicate that market bulls are getting agitated. Price increased past the strong resistance level of $0.66. After breaking above the level, it increases towards the resistance level of $0.67. The Crypto pulls back today as the sellers dominate the market.
At the moment, the currency pair is trading above the 9-period and 21-period exponential moving averages, pointing to a bullish trend. In case buyers are successful in holding the $0.66 support level, AUDUSD may incline above the $0.67, $0.68, and $0.70 resistance levels. The support level of $0.66 may be broken lower when sellers gain more traction, and the price may then decline 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. The price has been moving strongly downward, therefore on 07 March it was necessary to try to bounce up at $0.65 barrier level. It increased in an effort to maintain the $0.65 support level. The price tested the previous high at $0.67 the next day due to increased buyer pressure
AUDUSD is trading around the 9-period and 21-period exponential moving averages. Relative Strength Index period 14 pointing up at 49 levels indicating a buy signal.
You can purchase Lucky Block – Guide, Tips & Insights | Learn 2 Trade 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
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
