Bulls’ momentum increase
AUDUSD Price Analysis – 03 July
Buyers may be able to increase the price to roughly $0.68 or possibly $0.69 if they are persistent enough to break through the $0.67 barrier. Prices may drop to the $0.65 and $0.64 support levels if sellers are successful in pushing the price below the $0.66 support level.
Key levels:
Resistance levels: $0.67, $0.68, $0.69
Support levels: $0.66, $0.65, $0.64
AUDUSD Long-term Trend: Bullish
AUDUSD value exhibits an inclination on the daily chart. A sizable bullish candle that emerged on March 6 indicated the start of a bullish trend for the currency pair. The bulls’ efforts resulted in a $0.66 gain in price. The price was reduced from the first quoted figure to $0.62 when sales began to fall. The AUDUSD crosses over the resistance level of $0.65. It is still inclining and approaching $0.67 quite near. The way the market has performed so far supports the bulls’ call for a rally from yesterday.
The market is viewed as bullish when the currency pair clears the Hull Suite forex signals indicator. When the blue QQE MOD indicator histogram is above the zero level, a buy forex signal is shown. Buyers may be able to increase the price to roughly $0.68 or possibly $0.69 if they are persistent enough to break through the $0.67 barrier. Prices may drop to the $0.65 and $0.64 support levels if sellers are successful in pushing the price below the $0.66 support level.
AUDUSD medium-term Trend: Bullish
The Australian dollar’s 4-hour chart shows an increasing trend. The $0.66 barrier level restrained the currency pair’s movement for over three weeks. Prices range from $0.66 to $0.65 levels. As the price started to rise over the dynamic barrier level, more bullish candles burned. On the chart, the 4-hour candle that closed at $0.66 yesterday looks healthy. If the prior level is exceeded, the trend of inclination may continue.
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