AUDUSD Price: Sellers Are Exerting More Pressure

Price is decreasing

AUDUSD Price Analysis – 22 October

The price may be increased to roughly $0.66 or perhaps $0.67 if buyers are willing to pay more than the $0.65 hedge. Prices may fall to the $0.63 and $0.62 support levels if sellers are able to drive the market below the $0.64 support position.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.64, $0.63, $0.62

AUDUSD Long-term Trend: Bearish

The AUDUSD tests the $0.67 threshold and then depreciates every day. A triple bottom chart pattern appeared on April 9 as the currency brace started to rise. The sweat of the bulls caused the price to rise to $0.67. Bears defended the previously specified level, and by the time transactions started to fail, the price had already dropped from the initial estimate to $0.64. At $0.64, the AUDUSD price reaches the cutoff. An update about the $0.63 hedge has been made. The price challenged the $0.64 support level this week before reversing to $0.65. The current situation supports the bears’ prediction of a steep decline to $0.63.

When the red QQE MOD indicator’s histogram drops below zero, it signals a sell forex signal. The price may be increased to roughly $0.66 or perhaps $0.67 if buyers are willing to pay more than the $0.65 hedge. Prices may fall to the $0.63 and $0.62 support levels if sellers are able to drive the market below the $0.64 support position. The request is considered bearish when the currency brace clears the Hull Suite forex signals index higher.

AUDUSD medium-term Trend: Bearish

The 4-hour chart of the Australian bone indicates a downward trend. For more than two days, the currency brace’s movement was restrained by the $0.67 hedging position. Prices ranged from $0.67 to $0.66. More bearish candles burned this week as the price began to drop below the dynamic hedge position. The 4-hour candle that ended below $0.65 the week before appeared erratic on the chart. Nevertheless, the growing declination can continue if the prior movement restriction is lifted.

The AUDUSD request may continue to decline, in my opinion. Both the red histogram and the QQE MOD are below zero and exhibit a clear decreasing trend.

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