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AUD/USD: Technical Analysis | November 19, 2020




AUD/USD: Technical Analysis | November 19, 2020

  • Update Time : Thursday, November 19, 2020
  • 14 Time View
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AUD/USD: Technical Analysis | November 25, 2020
AUD/USD: Technical Analysis | November 25, 2020

MarketDeal24.Com – The AUD/USD pair moved above 0.73 again on Wednesday due to a weaker US dollar, even after falling below the 0.73 handle in a four-hour time frame. The next upward target is Quasimodo Resistance 0.7342 and the September opening level of 0.7376.

The AUD/USD pair continued to gain in the weekly time frame from the 2020 opening level (0.7016) and the 2019 opening level (0.7042).

With the market trending upwards since early 2020, buyers may still look at resistance 0.7379, followed by resistance 0.7495.

Price in the daily time frame tested at Support 0.7235 last week is likely to create additional upside conditions. For This, buyers could target the resistance at 0.7393.

Important Things To Consider:

  • Buyers were happy to be tested at 0.73 in a four-hour time frame. Price in weekly and daily time frames is moving towards weekly resistance 0.7379.
  • In the long run the buyers should be in a somewhat cautious position between weekly resistance 0.7379 and resistance 0.7393.

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