AUDUSD Price Pulls Back at $0.67 Resistance Level to Retest $0.66 Level

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

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.


Buyers’ momentum may increase

AUDUSD Price Analysis – 17 May

In case buyers are successful in holding the $0.66 support level, AUDUSD may rise above the $0.67, $0.68, and $0.69 resistance levels. The price may fall as a result of the downward momentum to levels of $0.65 and $0.63 if sellers gain more traction. The support level of $0.66 may be broken lower.

AUD/USD Market

Key levels:

Resistance levels: $0.67, $0.68, $0.69

Support levels: $0.66, $0.65, $0.63

AUDUSD Long-term Trend: Bullish

AUDUSD’s daily chart shows a positive trend. A double bottom chart pattern forms on the daily time period. On March 7, the $0.65 level of support was put to the test. At the previous level, a bullish engulfing candle pattern may be seen. This can indicate market bulls who are agitated. The price increased past the trustworthy $0.66 threshold. After overcoming the obstacle, the price moves up and tested the $0.67 resistance wall. Bullish momentum is having difficulty rising beyond $0.67 level, it pulls back retesting the $0.66 level.

The currency pair is trading below the 9-period and 21-period exponential moving averages, which suggests a bearish pullback. In case buyers are successful in holding the $0.66 support level, AUDUSD may rise above the $0.67, $0.68, and $0.69 resistance levels. The price may fall as a result of the downward momentum to levels of $0.65 and $0.63 if sellers gain more traction. The support level of $0.66 may be broken lower.

AUDUSD medium-term Trend: Bearish

AUDUSD is bearish on the 4-hour chart. Prior to a few weeks ago, the price started to rise and challenge the $0.67 resistance level. While being supported by sellers close to the stated level, the price declined toward the previous low of $0.65. Customers now halt vendors even before they enter the market. Last week, the price tested the previous low once more, forming a double-bottom chart pattern. The sellers dominate the market.

AUDUSD is trading below the 9-period and 21-period exponential moving averages. Relative Strength Index period 14 pointing up at 43 levels, indicating 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.

Leave a Reply

Your email address will not be published. Required fields are marked *