AUDUSD Price Might Continue to Rise

Uptrend commencement in AUDUSD market

AUDUSD Price Analysis – 19 February

The price may be increased to roughly $0.64 or even $0.65 if buyers are willing to pay more than the $0.63 hedge. Prices may fall to the $0.60 and $0.58 support levels if sellers are able to force the market below the $0.62 support position.

Key levels:

Resistance levels: $0.63, $0.64, $0.65

Support levels: $0.62, $0.61, $0.60

AUDUSD Long-term Trend: Bullish

The value of the AUDUSD rises daily. On January 13, a double bottom chart pattern emerged, indicating the beginning of a positive trend for the currency brace. The price dropped by $0.60 as a result of the bears’ perspiration. By the time deals started to fall, the price had dropped from the original estimate to $0.64. At $0.60, the AUDUSD price is currently above the cutoff. An update is being made to the $0.62 hedge. Last week, the request was withdrawn to test the $0.63 resistance position. The bulls’ vaticinator of a successful incline to $0.63 is supported by the existing circumstances.

A buy forex signal is indicated when the histogram of the blue QQE MOD indicator rises above zero. If purchasers are ready to pay more than the $0.63 hedge, the price might be raised to about $0.64 or possibly $0.65. If sellers can push the market below the $0.62 support position, prices can drop to the $0.61 and $0.60 support levels. When the currency brace clears the Hull Suite forex signals index, the request is deemed bullish.

AUDUSD medium-term Trend: Bullish

The Australian bone’s 4-hour chart shows an increasing trend. The $0.62 hedging position held back the currency brace’s movement for over two weeks. The range of prices was $0.61 to $0.62. Last week, as the price started to go above the dynamic hedge position, more bullish candles burnt. On the chart, the 4-hour candle that ended above $0.62 last week seems promising. However, the increasing tendency can persist if the prior mobility constraint is lifted.

The AUDUSD request might continue to rise, in my opinion. The QQE MOD and the blue histogram both show a strong trend and are above zero.

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