AUDUSD Price: Trying Its Exposure to $0.64 Level

Downward tendency may continue

AUDUSD Price Analysis – 06 November

If customers are driven enough to surpass the $0.65 barrier, they could be able to reduce the price to about $0.64 or even $0.63. If buyers are successful in pushing the price above the $0.66 resistance level, prices may rise to the $0.67 and $0.68 resistance levels.

Key levels:

Resistance levels: $0.66, $0.67, $0.68

Support levels: $0.65, $0.64, $0.63

AUDUSD Long-term Trend: Bearish

On the daily chart, the value of the AUDUSD is declining. The start of a bearish trend for the currency pair was indicated by the appearance of a sizable bearish candle on October 1. The bears’ efforts caused the price to fall by $0.67. The price had fallen from the initial estimate to $0.66 by the time sales began to plummet. The AUDUSD price broke through the barrier at $0.67. The $0.69 barrier remained stationary. The market retreated to test the $0.66 support level last week. The current situation supports the bears’ prognosis of a successful slide to $0.65.

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A sell forex signal is indicated when the histogram of the red QQE MOD indicator drops below zero. If customers are driven enough to surpass the $0.65 barrier, they could be able to reduce the price to about $0.64 or even $0.63. If buyers are successful in pushing the price above the $0.66 resistance level, prices may rise to the $0.67 and $0.68 resistance levels. The market is deemed bearish when the currency pair clears the Hull Suite forex signals indicator.

AUDUSD medium-term Trend: Bearish

The Australian dollar’s 4-hour chart shows a declining trend. The $0.69 barrier level held back the currency pair’s movement for an additional two weeks. The range of prices was $0.68 to $0.67. Last week, as the price started to decline below the dynamic barrier level, more bearish candles burned. On the chart, the 4-hour candle that closed below $0.67 last week looks to be negative. After removing the previous barrier to mobility, the downward tendency may continue.

.64 Level" width="580" height="259" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/11/4-hours-12-1024x458.png"/> The AUDUSD market might continue to drop, in my opinion. The QQE MOD and the red histogram both exhibit a downward trend and are below zero.

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