AUDUSD market is under buyers’ pressure
AUDUSD Price Analysis – 10 April
If buyers are determined enough to break through the $0.66 barrier, they might be able to push AUDUSD up to about $0.67 or even $0.68. If sellers are successful in driving the price below the $0.65 support level, the price may fall to the $0.64 and $0.63 support levels.
Key levels:
Resistance levels: $0.66, $0.67, $0.68
Support levels: $0.65, $0.64, $0.63
AUDUSD Long-term Trend: Bullish
The daily chart indicates that the AUDUSD is rising in value. On March 06, a large bullish candle developed, signaling the beginning of a bullish trend for the currency pair. Because of the bulls’ effort, the price increased by $0.66. Sales started to decline, and the price dropped to $0.65 from the initial sum mentioned. The support level is breached by the AUDUSD. It is getting closer to $0.64 as it keeps going down. The market’s actions from yesterday and today suggest that the bulls are back.
When the currency pair passes over the Hull Suite forex signals indicator, the market is considered bullish. A purchase forex signal is displayed when the red histogram of the QQE MOD indicator is above the zero level. If buyers are determined enough to break through the $0.66 barrier, they might be able to push the price up to about $0.67 or even $0.68. If sellers are successful in driving the price below the $0.65 support level, the price may fall to the $0.64 and $0.63 support levels.
AUDUSD medium-term Trend: Bullish
The 4-hour chart of the Australian dollar indicates an upward trend. The currency pair’s movement was confined for more than three weeks by the $0.66 barrier level. The range of prices is $0.66 to $0.65. Additional bullish candles were lit, and the price began to rise above $0.65. The 4-hour candle that closed above $0.65 yesterday indicates a bullish candle on the chart. If the previously determined level is exceeded, an inclination trend is produced.
I think there’s a chance the AUDUSD market may move higher still. Both the blue histogram and the QQE MOD, which is above zero, show a positive trend.
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