Bullish movement continues
AUDUSD Price Analysis – 10 July
If buyers are determined enough to push past the $0.67 barrier, they might be able to raise the price to about $0.68 or even $0.69. If sellers are successful in driving the price below the $0.66 support level, prices may fall to the $0.65 and $0.64 support levels.
Key levels:
Resistance levels: $0.67, $0.68, $0.69
Support levels: $0.66, $0.65, $0.64
AUDUSD Long-term Trend: Bullish
The value of AUDUSD shows a bullish trend on the daily chart. The beginning of a bullish trend for the currency pair was signaled by a large bullish candle that appeared on March 6. Because of the bulls’ efforts, the price increased by $0.66. When sales started to decline, the price was lowered from the first quoted amount to $0.62. The $0.65 resistance level is crossed by the AUDUSD. It is steadily inclining and getting very close to $0.67 level. The market’s current performance validates yesterday’s rally call made by the bulls.
When the currency pair clears the Hull Suite forex signals indicator, the market is seen as bullish. A buy forex signal is displayed when the blue QQE MOD indicator histogram is above the zero level. If buyers are determined enough to push past the $0.67 barrier, they might be able to raise the price to about $0.68 or even $0.69. If sellers are successful in driving the price below the $0.66 support level, prices may fall to the $0.65 and $0.64 support levels.
AUDUSD medium-term Trend: Bullish
The 4-hour chart of the Australian dollar indicates an upward trend. The currency pair’s movement was confined for more than three weeks by the $0.66 barrier level. The price range is $0.66 to $0.65. Further bullish candles burned as the price began to soar above the dynamic barrier level. The 4-hour candle that closed at $0.66 yesterday appears healthy on the chart. Should the previous level be surpassed, the inclination trend might persist.
I think we could see more rises in the AUDUSD market. Both the blue histogram and the QQE MOD, which are both above zero, show a positive trend.
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