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.

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.

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.

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