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AUD/USD: Technical Analysis | November 27, 2020




AUD/USD: Technical Analysis | November 27, 2020

  • Update Time : Friday, November 27, 2020
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AUD/USD: Technical Analysis | November 27, 2020
AUD/USD: Technical Analysis | November 27, 2020

MarketDeal24.Com – AUD/USD pair traded unchanged on Thursday. The pair’s price has recently risen above the upward triangle pattern of 0.7340 in a four-hour time frame. The pair is currently targeting 0.7544. However, before reaching this level, there are September opening level 0.7376, 0.74 handle and Quasimodo resistance 0.7403.

The AUD/USD pair closed at 0.7379 last weekend after falling 3% in early November to close around the 2020 opening level (0.7016) and the 2019 opening level (0.7042). With the market trending upwards since early 2020, buyers may still be looking for resistance at 0.7495.

The price of the pair has risen last week after testing the price at support 0.7235 on November 13, which is likely to increase the price this week as well. This week, buyers will target resistance at 0.7393, which is above the weekly resistance.

Important Things To Consider:

  • The September opening level of 0.7376, the weekly resistance of 0.7379 and the daily resistance of 0.7393 will create a resistance area.
  • Breakout buyers above the four-hour uptrend triangle will target 0.7544.

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