AUDUSD Price May Continue a Bullish Movement

Buyers are opposing Sellers at $0.63

AUDUSD Price Analysis – 28 August

The price may be increased to roughly $0.66 or even $0.67 if buyers are willing to pay more than the $0.65 hedge. Prices may fall to the $0.63 and $0.62 support levels if sellers are able to drive the market below the $0.64 support position.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.64, $0.63, $0.62

AUDUSD Long-term Trend: Bullish

The AUDUSD depreciates every day after hitting the $0.65 mark. A triple bottom chart pattern appeared on April 9 as the currency brace started to rise. The sweat of the bulls caused the price to rise to $0.65. By the time transactions started to fail, the price had fallen from the original estimate to $0.64. At $0.64, the AUDUSD price reaches the cutoff. An update about the $0.63 hedge has been made. This week, the $0.64 support level was examined and the price bounce towards $0.65. The current situation supports the bulls’ prediction of a steep incline to $0.65.

When the blue QQE MOD indicator’s histogram rise above zero, it signals a buy forex signal. The price may be increased to roughly $0.66 or even $0.67 if buyers are willing to pay more than the $0.65 hedge. Prices may fall to the $0.63 and $0.62 support levels if sellers are able to drive the market below the $0.64 support position. The request is considered bullish when the currency brace clears the Hull Suite forex signals index upward.

AUDUSD medium-term Trend: Bullish

The 4-hour chart of the Australian bone indicates an upward trend. For more than two days, the currency brace’s movement was restrained by the $0.61 hedging position. Prices ranged from $0.61 to $0.62. More bullish candles burned this week as the price began to rise above the dynamic hedge position. The 4-hour candle that ended above $0.64 the week before appeared erratic on the chart. However, the growing inclination may persist if the prior movement restriction is lifted.

The AUDUSD request may continue to incline, in my opinion. Both the blue histogram and the QQE MOD are above zero and exhibit a clear increasing trend.

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