AUD/USD Weekly Analysis – Sunday, November 12

AUD/USD formed a sideways movement in a narrow range between 0.7624 and 0.7729. The sideways movement is likely a consolidation of the downtrend from 0.8124.

A breakdown below 0.7624 support could trigger another fall towards 0.7535 support level. Resistance is at the falling trend line on the daily chart. Only a clear break above the trend line resistance could bring the price back into 0.7750 zone.

AUDUSD daily chart

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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