AUDUSD price may bounce up at present level
AUDUSD Price Analysis – 01 January
Customers may be able to lower the price to roughly $0.62 or even $0.60 if they are motivated enough to go over the $0.63 barrier. Prices may increase to the $0.65 and $0.66 resistance levels if buyers are able to push the price above the $0.64 resistance level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bearish
Key levels:
Resistance levels: $0.64, $0.65, $0.66
Support levels: $0.63, $0.62, $0.60
AUDUSD Long-term Trend: Bearish
On the daily chart, the value of the AUDUSD is declining. The start of a bearish trend for the currency pair was indicated by the appearance of a sizable bearish candle on October 1. The bears’ efforts caused the price to fall by $0.65. The price had fallen from the initial projection to $0.64 by the time sales began to fall. The price of the AUDUSD broke through the barrier at $0.67. The $0.69 barrier remained stationary. The market retreated to test the $0.65 support level last week. The current situation supports the bears’ prognosis of a successful slide to $0.63.
When the red QQE MOD indicator’s histogram falls below zero, it represents a sell forex signal. Customers may be able to lower the price to roughly $0.62 or even $0.60 if they are motivated enough to go over the $0.63 barrier. Prices may increase to the $0.65 and $0.66 resistance levels if buyers are able to push the price above the $0.64 resistance level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bearish.
AUDUSD medium-term Trend: Bearish
The 4-hour chart of the Australian dollar indicates a downward trend. For more than two weeks, the currency pair’s movement was restrained by the $0.69 barrier level. Prices ranged from $0.68 to $0.67. More bearish candles burned last week as the price began to drop below the dynamic barrier level. The 4-hour candle that closed below $0.67 last week appears to be negative on the chart. The downward trend can continue if the prior mobility restriction is removed.
I think the AUDUSD market may keep declining. Both the red histogram and the QQE MOD are below zero and show a declining trend.
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