AUDUSD Retests Previous Low at $0.63 Level, What Next?

AUDUSD price may bounce up at $0.63 point

AUDUSD Price Analysis – 11 December

Customers may be able to lower the price to roughly $0.62 or even $0.60 if they are motivated enough to go over the $0.63 barrier. Prices may increase to the $0.65 and $0.66 resistance levels if buyers are able to push the price above the $0.64 resistance level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bearish.

Key levels:

Resistance levels: $0.64, $0.65, $0.66

Support levels: $0.63, $0.62, $0.60

AUDUSD Long-term Trend: Bearish

The AUDUSD is losing value on the daily chart. On October 1, a large bearish candle appeared, signaling the beginning of a bearish trend for the currency pair. The price dropped by $0.65 as a result of the bears’ efforts. By the time sales started to decline, the price had dropped from the original forecast to $0.64. At $0.67, the AUDUSD price broke through the barrier. The $0.69 barrier did not move. Last week, the market pulled back to test the $0.65 support level. The bears’ prediction of a successful decline to $0.63 is supported by the existing circumstances.

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When the red QQE MOD indicator’s histogram falls below zero, it represents a sell forex signal. Customers may be able to lower the price to roughly $0.62 or even $0.60 if they are motivated enough to go over the $0.63 barrier. Prices may increase to the $0.65 and $0.66 resistance levels if buyers are able to push the price above the $0.64 resistance level. When the currency pair clears the Hull Suite forex signals indicator, the market is considered bearish.

AUDUSD medium-term Trend: Bearish

The 4-hour chart of the Australian dollar indicates a downward trend. For more than two weeks, the currency pair’s movement was restrained by the $0.69 barrier level. Prices ranged from $0.68 to $0.67. More bearish candles burned last week as the price began to drop below the dynamic barrier level. The 4-hour candle that closed below $0.67 last week appears to be negative on the chart. The downward trend can continue if the prior mobility restriction is removed.

.63 Level, What Next?" width="1281" height="573" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/12/4-hours-34.png"/> I think the AUDUSD market may keep declining. Both the red histogram and the QQE MOD are below zero and show a declining trend.

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