AUDUSD Price: Sellers Exerting Pressure to Penetrate $0.65 Level

Updated:

AUDUSD Price Analysis – September 21

Ability to break down the support level of $0.65 may lead to price decrease towards the support level of $0.64, and $0.63. The closing of daily candle above $0.66 level by the bulls may push the price to test the resistance levels of $0.67 and $0.68.

AUD/USD Market

Key levels:

Resistance levels: $0.66, $0.67, $0.68

Support levels: $0.65, $0.64, $0.63

AUDUSD Long-term trend: Bearish

AUDUSD is bearish on the daily chart. Bearish movement continues in the AUDUSD market as the price could not go higher when it tested $0.68 level. The price action has formed a descending channel on daily chart. Bears’ pressure further increased and the price decreases accordingly. It reversed and penetrated the former support levels of $0.67 and $0.66 downside.  At the moment, the price is currently testing the support level of $0.65.

AUDUSD price is trading below the 9 periods EMA and 21 periods EMA which indicate that sellers’ momentum is increasing. The relative strength index period 14 is at 36 levels and the signal lines pointing down displaying bearish direction. Ability to break down the support level of $0.65 may lead to price decrease towards the support level of $0.64, and $0.63. The closing of daily candle above $0.66 level by the bulls may push the price to test the resistance levels of $0.67 and $0.68.

AUDUSD medium-term Trend: Bearish

AUDUSD is bearish on the 4-hour chart. The currency pair further experience a decrease in price. The sellers’ momentum increase and the price decreases. The former support level of $0.67 is penetrated and the price is testing the support level of $0.66.

AUDUSD is currently trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 36 levels with the signal lines pointing down to indicate a sell.

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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.