Sellers may rule AUDUSD market this week
AUDUSD Price Analysis – 29 November
AUDUSD may drop to the $0.65, $0.64, and $0.63 support levels if sellers are successful in holding the $0.66 resistance level. The price may be forced to lean towards $0.67 and surge as high as $0.68 if buyers show more vigor and break through the resistance level at $0.66.
Key levels:
Resistance levels: $0.66, $0.67, $0.68
Support levels: $0.65, $0.64, $0.63
AUDUSD Long-term Trend: Bullish
With respect to the daily chart, AUDUSD is trending wildly. It moved between $0.64 and $0.63 before finding support at $0.62 on October 3. On November 3, there were strong bullish candles that drove the price up to $0.65, where it tested. The sellers’ objection prevented the purchasers from moving forward. The momentum gained by the buyers pushed the price higher to $0.66 resistance level. At the moment, sellers are driving the price closer to the $0.65 mark as a sign of price retracement.
A bullish market is suggested by the currency pair’s climb above the exponential moving averages with 9 and 21 periods. At 67, the period 14 signal lines of the Relative Strength Index are pointing upward. The price may drop to the $0.65, $0.64, and $0.63 support levels if sellers are successful in holding the $0.66 resistance level. The price may be forced to lean towards $0.67 and surge as high as $0.68 if buyers show more vigor and break through the resistance level at $0.66.
AUDUSD medium-term Trend: Bullish
There is an upward trend visible on the 4-hour AUDUSD chart. For almost three weeks, the movement of the currency pair has been constrained by the $0.65 resistance level and the $0.63 support level. The double bottom chart pattern was formed as the price twice challenged the targeted support level at $0.62. As it gains strength, the AUDUSD has tested the $0.66 barrier. Bears are trying to oppose bulls at $0.66 level.
There is a good chance that the current trend in the AUDUSD market will continue. Right now, the 21- and 9-period exponential moving averages are lower than the AUDUSD.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.