AUDUSD Price May Rise Above $0.66 Resistance Level

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.

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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.

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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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