AUDUSD Price May Continue a Downtrend

Bears are dominating AUDUSD market

AUDUSD Price Analysis – 09 April

The price may be increased to roughly $0.61 or even $0.62 if buyers are willing to pay more than the $0.60 hedge. Prices may fall to the $0.58 and $0.57 support levels if sellers are able to drive the market below the $0.59 support position.

Key levels:

Resistance levels: $0.60, $0.61, $0.62

Support levels: $0.59, $0.58, $0.57

AUDUSD Long-term Trend: Bearish

Every day, the AUDUSD’s value decreases. A double top chart pattern appeared on March 18 as the currency brace started to decrease. The bears’ sweat caused the price to decrease by $0.60. The price had fallen from the initial estimate to $0.60 by the time transactions began to collapse. The AUDUSD price is below the cutoff at $0.59 right now. The $0.59 hedge is undergoing an update. The $0.63 resistance position is still being tested this week. The current situation supports the bears’ estimate of a successful advance to $0.59.

When the blue QQE MOD indicator’s histogram falls below zero, it indicates a sell forex signal. The price may be increased to roughly $0.61 or even $0.62 if buyers are willing to pay more than the $0.60 hedge. Prices may fall to the $0.58 and $0.57 support levels if sellers are able to drive the market below the $0.59 support position. The request is considered bearish when the currency brace clears the Hull Suite forex signals index.

AUDUSD medium-term Trend: Bearish

The 4-hour chart of the Australian bone indicates a downward trend. For more than two days, the currency brace’s movement was restrained by the $0.62 hedging position. Prices ranged from $0.61 to $0.62. More bearish candles burned this week as the price began to fall below the dynamic hedge position. The 4-hour candle that closed below $0.60 last week appeared erratic on the chart. However, if the previous mobility restriction is removed, the decreasing trend may continue.

The AUDUSD request may keep falling, in my opinion. Both the red histogram and the QQE MOD are below zero and exhibit a clear downward trend.

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