AUDUSD Price May Continue an Uptrend

Bulls are dominating AUDUSD market

AUDUSD Price Analysis – 16 April

If purchasers are ready to pay more than the $0.64 hedge, the price might be raised to about $0.65 or possibly $0.66. If sellers can push the market below the $0.63 support position, prices can drop to the $0.62 and $0.61 support levels.

Key levels:

Resistance levels: $0.64, $0.65, $0.66

Support levels: $0.63, $0.62, $0.61

AUDUSD Long-term Trend: Bullish

The value of the AUDUSD inclines daily. On March 18, when the currency brace began to decline, a double top chart pattern emerged. The price bottomed at $0.60 as a result of the bears’ perspiration. By the time transactions started to collapse, the price had dropped from the original estimate to $0.60. At $0.59, the AUDUSD price gain strength above the cutoff. An update is being made to the $0.61 hedge. This week, the resistance position of $0.63 is still being probed. The bulls’ prediction of a successful rise to $0.65 is supported by the existing circumstances.

A buy forex signal is indicated when the histogram of the blue QQE MOD indicator drops above zero. If purchasers are ready to pay more than the $0.64 hedge, the price might be raised to about $0.65 or possibly $0.66. If sellers can push the market below the $0.63 support position, prices can drop to the $0.62 and $0.61 support levels. When the currency brace clears the Hull Suite forex signals index, the request is deemed bullish.

AUDUSD medium-term Trend: Bullish

The Australian bone’s 4-hour chart shows an inclining trend. The $0.61 hedging position held back the currency brace’s movement for over two days. The range of prices was $0.59 to $0.61. This week, as the price started to rise above the dynamic hedge position, more bullish candles burnt. On the chart, the 4-hour candle that closed above $0.63 the previous week seemed unstable. However, the inclining trend can persist if the prior mobility limitation is lifted.

I think the AUDUSD request might continue to incline. The QQE MOD and the blue histogram both show a distinct inclining trend and are above zero.

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