AUDUSD Price May Increase to $0.65 Resistance Level

Price may increase further

AUDUSD Price Analysis – October 26

Ability to break up the resistance level of $0.65 level may lead to AUDUSD inclination towards the resistance level of $0.66, and $0.67. The closing of daily candle below $0.63 level by the bears may push the price to test the support levels of $0.62 and $0.61.

AUD/USD Market

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.63, $0.62, $0.61

AUDUSD Long-term trend: Bullish

AUDUSD is bullish on the daily chart. At the early stage of market last week, Bears’ pressure further increased and the price decreased to the support level of $0.61. Bearish movement could not continue when it tested $0.61 support level. It reversed yesterday with the formation of strong daily bullish candle and penetrated the former resistance levels of $0.63.  The price is currently exposes to the resistance level of $0.65 at the moment.

AUDUSD price is trading above the 9 periods EMA and 21 periods EMA which indicate that bulls’ momentum is increasing. The relative strength index period 14 is at 57 levels and the signal lines pointing up displaying bullish direction. Ability to break up the resistance level of $0.65 level may lead to price inclination towards the resistance level of $0.66, and $0.67. The closing of daily candle below $0.63 level by the bears may push the price to test the support levels of $0.62 and $0.61.

AUDUSD medium-term Trend: Bullish

AUDUSD is bullish on the 4-hour chart. The currency pair could not decrease beyond the support level of $0.61 last week. The bears’ momentum fails and the price increase. The former resistance level of $0.63 is penetrated and the price is targeting the resistance level of $0.65.

AUDUSD is currently trading above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 68 levels with the signal lines pointing up to indicate a buy signal. .

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