AUDUSD Price May Decline to Retest $0.64 Level

Sellers hold onto AUDUSD market

AUDUSD Price Analysis – 30 October

Customers may be able to lower the price to roughly $0.64 or even $0.63 if they are motivated enough to go over the $0.65 barrier. AUDUSD may increase to the $0.67 and $0.68 resistance levels if buyers are able to push the price over the $0.67 resistance level.

Key levels:

Resistance levels: $0.66, $0.67, $0.68

Support levels: $0.65, $0.64, $0.63

AUDUSD Long-term Trend: Bearish

AUDUSD is losing value on the daily chart. On October 1, a large bearish candle appeared, signaling the beginning of a bearish trend for the currency pair. The price dropped by $0.67 as a result of the bears’ efforts. By the time sales started to decline, the price had dropped from the original estimate to $0.66. At $0.67, the AUDUSD price surpassed the barrier. The $0.69 barrier did not move. Last week, the market pulled back to test the $0.66 support level. The bears’ prediction of a successful decline to $0.65 is supported by the existing circumstances.

When the red QQE MOD indicator’s histogram falls below zero, it represents a sell forex signal. Customers may be able to lower the price to roughly $0.64 or even $0.63 if they are motivated enough to go over the $0.65 barrier. Prices may increase to the $0.67 and $0.68 resistance levels if buyers are able to push the price over the $0.67 resistance level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bearish.

AUDUSD medium-term Trend: Bearish

The 4-hour chart of the Australian dollar indicates a downward trend. For more two weeks, the currency pair’s movement was restrained by the $0.69 barrier level. The price range was between $0.68 and $0.67. More bearish candles burned last week as the price began to drop below the dynamic barrier level. The 4-hour candle that closed below $0.67 last week appears to be negative on the chart. The downward tendency might persist once the prior obstacle to movement is removed.

I think the AUDUSD market may keep declining. Both the red histogram and the QQE MOD are below zero and show a declining trend.

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