AUDUSD Price: Will There Be a Reversal at $0.670 Level?

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AUDUSD Price Analysis – July 13

The closing of daily candle below $0.670 level by the bears may push the price to test the support levels of $0.600 and $0.580. Ability to break up the resistance level of $0.683 level may lead to price inclination towards the resistance level of $0.698, and $0.710.

AUD/USD Market

Key levels:

Resistance levels: $0.683, $0.698, $0.710

Support levels: $0.670, $0.600, $0.580

AUDUSD Long-term trend: Bearish

AUDUSD is bearish on the daily chart. The price decreases as Bears’ pressure further increased accordingly. When it tested $0.710 level, the price could not go higher, bearish movement continues in the AUDUSD market. It reversed and penetrated the former support levels of $0.698 and $0.683 downside.  The price is currently exposes to the support level of $0.670 at the moment.

AUDUSD price is trading below the 9 periods EMA and 21 periods EMA which indicate that bears’ momentum is increasing. The relative strength index period 14 is at 40 levels and the signal lines pointing up displaying bullish direction. The closing of daily candle below $0.670 level by the bears may push the price to test the support levels of $0.600 and $0.580. Ability to break up the resistance level of $0.683 level may lead to price inclination towards the resistance level of $0.698, and $0.710.

AUDUSD medium-term Trend: Bearish

AUDUSD is bearish on the 4-hour chart. Last week, the bears’ momentum increase and the price declines accordingly. Further price decrease experiences in the AUDUSD market. The former support level of $0.683 is penetrated and the price is pulling back from the support level of $0.670 at the moment.

AUDUSD is currently trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 50 levels with the signal lines pointing up to indicate a buy signal.

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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.