AUDUSD Price Surpass $0.66 Level, Targeting $0.67 Level

Buyers Prevail over Sellers in AUDUSD market

AUDUSD Price Analysis – 15 May

If buyers are determined enough to push past the $0.66 barrier, they might be able to raise the price to about $0.67 or even $0.68.  If sellers are successful in driving AUDUSD below the $0.65 support level, the price may fall to the $0.64 and $0.62 support levels.

Key levels:

Resistance levels: $0.66, $0.67, $0.68

Support levels: $0.65, $0.64, $0.62

AUDUSD Long-term Trend: Bullish

AUDUSD’s value is inclining, as seen by the daily chart. The beginning of a bullish trend for the currency pair was signaled by a large bullish candle that appeared on March 6. Because of the bulls’ efforts, the price increased by $0.66. When sales started to decline, the price was lowered from the initial figure mentioned to $0.62.  AUDUSD breaks above the $0.64 support level. It is getting close to $0.62 as it keeps increasing. The market’s movements yesterday suggest that the bulls will return, today’s movement confirms it.

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When the currency pair clears the Hull Suite forex signals indicator, the market is considered bullish. A sell forex signal is displayed when the red histogram of the QQE MOD indicator is below the zero level. If buyers are determined enough to push past the $0.66 barrier, they might be able to raise the price to about $0.67 or even $0.68.  If sellers are successful in driving the price below the $0.65 support level, the price may fall to the $0.64 and $0.62 support levels.

AUDUSD medium-term Trend: Bullish

The 4-hour chart of the Australian dollar indicates an upward trend. The currency pair’s movement was confined for more than three weeks by the $0.66 barrier level. The range of prices is $0.66 to $0.65. As additional bullish candles burned, the price began to rise above the dynamic barrier level. The 4-hour candle that closed at $0.65 yesterday looks positive on the chart. The previous level is surpassed, an inclination trend is formed.

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I think there’s a chance that AUDUSD market will incline even further. Both the blue histogram and the QQE MOD, which are both above zero, show a positive trend.

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