Sellers are dominating AUDUSD market
AUDUSD Price Analysis – 28 February
If buyers are determined enough to break through the $0.65 barrier, they might push AUDUSD up to roughly $0.66 or even $0.67. If sellers are successful in driving the price below the $0.64 support level, the price may fall to the $0.63 and $0.62 support levels.
Key levels:
Resistance levels: $0.65, $0.66, $0.67
Support levels: $0.64, $0.63, $0.62
AUDUSD Long-term Trend: Bearish
The daily chart indicates that the value of AUDUSD is trending downward. On January 4, a large bearish candle developed, signaling the beginning of a bearish trend for the currency pair. As a result, the price dropped by $0.63. Sales gained momentum to bring the price down to $0.63. At $0.62, it conducted a support level test. On February 14, it pulled back to retest $0.65 level. At this moment, the price is dropping to the previous low at $0.64.
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When the currency pair rise above the Hull Suite indicator, a bullish market is indicated. A buy forex signal is displayed when the blue histogram of the QQE MOD indicator is above the zero level. If buyers are determined enough to break through the $0.65 barrier, they might push the price up to roughly $0.66 or even $0.67. If sellers are successful in driving the price below the $0.64 support level, the price may fall to the $0.63 and $0.62 support levels. Join best forex signals telegram
AUDUSD medium-term Trend: Bullish
The Australian dollar’s 4-hour chart shows a declining trend. The $0.65 resistance level limited the movement of the currency pair for over three weeks. AUDUSD points are $0.64 through $0.63. The 4-hour candle has ended below $0.65, and the chart showed a bearish candle today. A downward trend is established if the level that was previously identified is broken.
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I believe that the AUDUSD market may continue a downward trend. The red histogram and the QQE MOD, both of which are below zero, indicate a bearish trend.
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