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AUDUSD Price May Commence a Bearish Movement  

Azeez Mustapha
Updated 1 min read
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Bears’ momentum increasing

AUDUSD Price Analysis – 14 January

If purchasers are ready to spend more than the $0.67 hedging level, the price might rise to roughly $0.68 or even $0.69. However, if sellers can push the price below the $0.66 support level, the market can go back 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 AUDUSD pair has been steadily increasing after declining below $0.64 and then gaining once more. On November 23, an inverted Head and Shoulder pattern emerged, signifying the start of an inclination. The price flipped to $0.66 due to bullish pressure. As the selling pressure lessened, the price increased to $0.65, where the bulls continued to hold control. The AUDUSD pair is currently back at $0.66. The $0.65 support level has been adjusted. The price tested the $0.66 threshold last week. Bulls predict a sharp rise to $0.67 based on the current position of the market.

AUDUSD Price May Commence a Bearish Movement

The blue QQE MOD indicator’s histogram rises above zero, suggesting a potential forex purchasing opportunity. If purchasers are ready to spend more than the $0.67 hedging level, the price might rise to roughly $0.68 or even $0.69. However, if sellers can push the price below the $0.66 support level, the market can go back to the $0.65 and $0.64 support levels. If the currency pair rises over the Hull Suite forex signals index, the signal is deemed positive.

 

AUDUSD medium-term Trend: Bearish

The 4-hour chart shows a decreasing trend for the Australian dollar. The $0.67 hedge level controlled the currency pair’s movement for more than two days. The prices were between $0.67 and $0.66. This week, as the price started to rise above the dynamic hedge level, the bullish candles got bigger. The 4-hour candle that closed above $0.66 last week appeared erratic. The upswing may continue if the previous resistance is broken.

I believe that demand for AUDUSD might be higher. Both the QQE MOD and the blue histogram are above zero and exhibit a clear upward trend.

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