AUDUSD Price Is Ready for an Increase

Soon, buyers might dominate the AUDUSD market

AUDUSD Price Analysis – 14 February

If sellers are successful in driving the price below the $0.645 support level, the price may fall to the $0.634 and $0.627 support levels. If enthusiastic buyers manage to break above the $0.654 barrier level, they may push the price up to around $0.660 and potentially even $0.666.

Key levels:

Resistance levels: $0.654, $0.660, $0.666

Support levels: $0.645, $0.634, $0.627

AUDUSD Long-term Trend: Bearish

The daily chart indicates that the value of the AUDUSD is declining. The beginning of a bearish trend for the currency pair was signaled by a large bearish candle that developed on January 4. As a result, the price dropped by $0.634. The selling got sufficient pace to cause the price to decrease towards $0.666 and $0.660. At $0.654, it conducted a support level test. Due to seller demand, the price eventually dropped below $0.654 on January 17. Right now, the price is retracing to the $0.654 level.

When the currency pair falls below the Hull Suite indicator, a bearish market is indicated. A sell forex signal is displayed when the red histogram of the QQE MOD indicator is below the zero level. If sellers are successful in driving the price below the $0.645 support level, the price may fall to the $0.634 and $0.627 support levels. If enthusiastic buyers manage to break above the $0.654 barrier level, they may push the price up to around $0.660 and potentially even $0.666.

AUDUSD medium-term Trend: Bearish

The Australian dollar’s 4-hour chart is showing a downward trend. The $0.654 support levels limited the movement of the currency pair for over three weeks. The price is between $0.654 and $0.660. Today’s chart displayed a bullish candle, and the 4-hour candle hasn’t concluded above $0.654. An upward trend will start if the level that was just mentioned is broken.

I think the AUDUSD market may commence an uptrend. The blue histogram and the QQE MOD, both of which are above zero, indicate a bullish trend.

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