AUDUSD Price May Retest Previous High at $0.74 Resistance Level

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


AUDUSD Price Analysis – March 09

The bullish breakup of the $0.745 resistance level will push the price to $0.755, further bullish pressure increase will increase the price to $0.777 level. Downward movement of the price will face support levels at $0.731, $0.717 and $0.710.

AUD/USD Market

Key levels:

Resistance levels: $0.745, $0.755, $0.77

Support levels: $0.731, $0.717, $0.710

 

AUDUSD Long-term trend: Bullish

On the daily chart, AUDUSD is bullish. The double bottom chart pattern formed triggered a bullish momentum in the daily chart. The currency pair increases as the bullish pressure increase, the former resistance level of $0.71 and $0.73 was penetrated upside and the price increase to test the $0.74 resistance level. The bulls are returning in to the market, currently in charge of AUDUSD market.

Daily 12

AUDUSD price is currently 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 59 levels and the signal lines pointing up displaying bullish direction. The bullish breakup of the $0.745 resistance level will push the price to $0.755, further bullish pressure increase will increase the price to $0.777 level. Downward movement of the price will face support levels at $0.731, $0.717 and $0.710.

AUDUSD medium-term Trend: Bullish

On the 4-hour chart, AUDUSD is bullish. The price increased and tested the resistance level of $0.74 on March 07. The mentioned resistance level holds and the bearish movement was triggered.  The price pulled back to retest the support level of $0.73. Today, the bulls are taken over the AUDUSD market, increasing towards the resistance level of $0.74.

4hours
4hours

AUDUSD is crossing above the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 54 levels and the signal lines pointing up to indicate a buy signal.

You can purchase Lucky Block here.  Buy LBlock:

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.