AUDUSD Price Tests $0.65 Level and Bounces Off

Sellers are increasing in AUDUSD market

AUDUSD Price Analysis – 01 May

If buyers are determined enough to push past the $0.65 barrier, they might be able to raise AUDUSD to about $0.66 or even $0.67.  If sellers are successful in driving the price below the $0.63 support level, the price may fall to the $0.62 and $0.61 support levels.

Key levels:

Resistance levels: $0.65, $0.66, $0.67

Support levels: $0.63, $0.62, $0.61

AUDUSD Long-term Trend: Bearish

The daily chart indicates that the AUDUSD is losing value. On March 06, a large bullish candle appeared, signaling the beginning of a bullish trend for the currency pair. Because of the bulls’ efforts, the price increased by $0.66. As sales started to decline, the price was lowered from the initial sum mentioned to $0.63.  AUDUSD breaks below the $0.65 support level. It is getting closer to $0.63 as it drops further. The market’s movements from yesterday and today suggest that the bulls are coming back.

.65 Level and Bounces Off" width="580" height="262" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/05/Daily-1-1024x463.png"/>

When the currency pair passes 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 $0.65 barrier, they might be able to raise the price to about $0.66 or even $0.67.  If sellers are successful in driving the price below the $0.63 support level, the price may fall to the $0.62 and $0.61 support levels.

AUDUSD medium-term Trend: Bearish

The 4-hour chart of the Australian dollar indicates a downward trend. For more than three weeks, the $0.66 barrier level limited the movement of the currency pair. The range of prices is $0.66 to $0.65. More bullish candles were lit, and the price began to rise above the dynamic barrier level. The 4-hour candle that closed at $0.64 yesterday seems like a bearish candle on the chart. If the previously set level is exceeded, an inclination trend is produced.

.65 Level and Bounces Off" width="580" height="262" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/05/4-hours-1-1024x463.png"/>

I think there’s a chance the AUDUSD market will continue to decrease. Both the red histogram and the QQE MOD, which are both below zero, show a negative trend.

You can purchase Lucky Block here. Buy LBLOCK