AUDUSD Price Pulls Back at Resistance Level of $0.69

Buyers continue to hold AUDUSD market

AUDUSD Price Analysis – 02 October

Customers may be able to push the price to roughly $0.70 or possibly $0.69 if they are persistent enough to overcome the $0.68 barrier. AUDUSD may fall to the $0.66 and $0.65 support levels if sellers are able to push the price lower the $0.67 support level.

Key levels:

Resistance levels: $0.68, $0.69, $0.70

Support levels: $0.67, $0.66, $0.65

AUDUSD Long-term Trend: Bullish

The value of AUDUSD is inclining on the daily chart. A large bullish candle that appeared on August 5 signaled the beginning of a bullish trend for the currency pair. The price increased by $0.66 as a result of the bulls’ efforts. When sales started to decline, the price had gone up from the original projection to $0.67. At $0.68, the AUDUSD price passed through the barrier level. The $0.68 barrier remained unbroken. Last week, the market pulled back to test the $0.66 support level. The current state of affairs is in line with the bulls’ prediction of a victorious ascent to the $0.69 mark.

When the blue QQE MOD indicator histogram is above the zero level, a buy forex signal is shown. Customers may be able to push the price to roughly $0.70 or possibly $0.69 if they are persistent enough to overcome the $0.68 barrier. Prices may fall to the $0.66 and $0.65 support levels if sellers are able to push the price lower the $0.67 support level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bullish.

AUDUSD medium-term Trend: Bullish

The 4-hour chart of the Australian dollar indicates an upward trend. For more than a week, the $0.68 barrier level limited the movement of the currency pair. The price range was $0.68 to $0.67. More bearish candles burned last week as the price began to drop below the dynamic barrier level. The 4-hour candle that closed at $0.67 last week appears bullish on the chart. The trend toward upward movement may persist, as the prior level of resistance was overcome.

I believe that the AUDUSD market may continue to move higher. Both the blue histogram and the QQE MOD, which are both above zero, show a positive trend.

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