AUDUSD Price Is Targeting $0.68 Resistance Level

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Buyers’ momentum is increasing

AUDUSD Price Analysis – 30 November

When buyers gain more momentum, the resistance level of $0.68 may be broken upside and the price may increase to the resistance level of $0.70, and $0.71. In case sellers oppose buyers at the $0.68 level, AUDUSD may decrease to the support levels at $0.66, $0.65, and $0.63.

AUD/USD Market

Key levels:

Resistance levels: $0.68, $0.70, $0.72

Support levels: $0.66, $0.65, $0.63

AUDUSD Long-term trend: Bullish

AUDUSD is bullish on the daily chart. The bullish trend was triggered at the support level of $0.63 on 04 November. The resistance levels of $0.65 and $0.66 have been broken upside with the strong pressure from the bulls. Today, bulls dominate the market and the price is increasing toward the resistance level of $0.68. The just mentioned level may be penetrated upside. That means the continuation of the bullish trend is envisaged.

AUDUSD is trading above the 9-periods EMA and 21-periods EMA which indicates that buyers’ momentum is increasing. The relative strength index period 14 is at 61 levels and the signal lines pointing upside display a strong bullish direction. When buyers gain more momentum, the resistance level of $0.68 may be broken upside and the price may increase to the resistance level of $0.70, and $0.71. In case sellers oppose buyers at the $0.68 level, the price may decrease to the support levels at $0.66, $0.65, and $0.63.

 AUDUSD medium-term Trend: Bullish

AUDUSD is bullish on the 4-hour chart. The bullish trend continues in the 4-hour chart when a “W” chart pattern formed at the support level of $0.63. The bulls are dominating the AUDUSD market as the formation of the chart pattern is completed at the $0.68 level.

AUDUSD is currently trading above the 9-periods EMA and 21-periods EMA, which indicates bullish momentum in the AUDUSD market. The relative strength index period 14 is at 67 levels with the signal lines pointing up to indicate a buy signal.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.