Selling Pressure Stopped on AUDUSD and Breakout Moves to Session Highs Below the Key Near-Term Level at 0.6860 Resistance Region


AUDUSD Price Analysis – October 17

The AUDUSD price is now moving towards a test of the key near-term resistance region around the level at 0.6860, after recovering from the low level at 0.6723 in the prior session. The exchange rate might continue to edge higher until it reaches the formed barrier on the horizontal zone on the level at 0.6860.

Key Levels

Resistance Levels: 0.7205, 0.7085, 0.6895

Support Levels: 0.6723, 0.6710, 0.6671

AUDUSD Long term Trend: Bullish

As shown on the daily, the FX pair is likely to close above its opening price today after recovering from the prior selling pressure, trending to about 72 pips higher after the open, the forex pair might end the session higher as bulls took control early in the day above its opening price.

However, If the resistance level stays unbreached, the AUDUSD pair will most likely make a brief pullback within this session, although the outlook is still in a longterm bearish condition, the short and medium-term trends both turned bullish already.

AUDUSD Short term Trend: Bullish

On the 4-hour time frame, it’s intraday bias has turned bullish already, while recovering from the level at 0.6710, its price actions from the level at 0.6671 are viewed as a corrective one.

Meanwhile just over the level at 0.6810 will extend the rebound further but the upside should be limited by the level at 0.6895 barriers to bring down trend resumption. And on the downside, a break of the level at 0.6710 minor support will turn bias back to the downside for retesting the level at 0.6671 low.

Instrument: AUDUSD
Order: Buy
Entry price: 0.6810
Stop: 0.6710
Target: 0.6895

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

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.