AUDUSD Price Is Targeting $0.717 Resistance Level

Updated:

AUDUSD Price Analysis – May 25

Ability to break up the resistance level of $0.710 level may lead to price inclination towards the resistance level of $0.717, and $0.731. The closing of daily candle below $0.698 level by the bears may push the price to test the support levels of $0.683 and $0.674.

AUD/USD Market

Key levels:

Resistance levels: $0.710, $0.717, $0.731

Support levels: $0.698, $0.683, $0.674

AUDUSD Long-term trend: Bullish

AUDUSD is bullish on the daily chart. The price bounced up at the support level of $0.68 with the formation of bullish Marubozu candle pattern. The price increases and penetrates $0.70 level upside. Another bullish engulfing candle emerged and price moves toward the resistance level of $0.710. The bulls are currently pushing the price to penetrate the just mentioned resistance level. Further price increase envisaged.

AUDUSD price is trading above the 21 periods EMA and 9 periods EMA. The latter is trying to cross the former which indicate that bulls’ momentum is increasing. The relative strength index period 14 is at 49 levels and the signal lines pointing up displaying bullish direction. Ability to break up the resistance level of $0.710 level may lead to price inclination towards the resistance level of $0.717, and $0.731. The closing of daily candle below $0.698 level by the bears may push the price to test the support levels of $0.683 and $0.674.

AUDUSD medium-term Trend: Bullish

AUDUSD is bullish on the 4-hour chart. The bears pushed the price to the low of $0.68. The bears’ momentum failed at the mentioned level and the bulls took over the market. The bulls’ momentum is increasing as the price is trading above the dynamic resistance levels. Bulls are struggling to break up the $0.710 level which indicate that bulls’ momentum is increasing.

AUDUSD is currently trading above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 59 levels and the signal lines pointing up to indicate a buy signal.

You can purchase Lucky Block here.  Buy LBlock:

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.