AUDUSD Price May Experience a Bullish Pullback

Buyers’ momentum may increase in AUDUSD market

AUDUSD Price Analysis – 27 March

If buyers are determined enough to push past the $0.65 barrier, they might be able to raise the AUDUSD to about $0.66 or even $0.67.  If sellers are successful in driving the price below the $0.64 support level, the price may fall to the $0.63 and $0.62 support levels.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.64, $0.63, $0.62

AUDUSD Long-term Trend: Bearish

The value of AUDUSD is declining, as the daily chart illustrates. On February 15, a large bullish candle developed, signaling the beginning of a bullish trend for the currency pair. The push from the bulls caused the price to rise by $0.66. Prices dropped from the previously indicated level to $0.65 as sales started to slow down.  The level of support is broken by AUDUSD. It keeps going down, getting closer to $0.64.

When the currency pair crosses below the Hull Suite forex signals indicator, the market is considered bearish. A sell forex signals is displayed when the red histogram of the QQE MOD indicator is below the zero level. If buyers are determined enough to push past the $0.65 barrier, they might be able to raise the price to about $0.66 or even $0.67.  If sellers are successful in driving the price below the $0.64 support level, the price may fall to the $0.63 and $0.62 support levels.

AUDUSD medium-term Trend: Bearish

The 4-hour chart of the Australian dollar indicates a downward trend. For more than three weeks, the $0.66 barrier level limited the movement of the currency pair. The range of prices is $0.66 to $0.65. Additional bearish candles were formed, and the price began to decline below the $0.65 mark. The 4-hour candle that finished this morning was below $0.65, indicating a bearish candle on the chart. If the previously set level is surpassed, a downward trend is established.

I think there’s a chance the AUDUSD market will reverse toward north. A bearish trend is shown by the red histogram and the QQE MOD, both of which are below zero.

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