AUDUSD Daily Analysis – Monday, Nov. 20

AUDUSD’s downside movement from 0.7729 extended to as low as 0.7535. Near-term, resistance is at the falling trend line on the 4-hour chart.

As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 0.7328.

On the upside, a clear break above the trend line resistance could bring the price back to next resistance level at 0.7610. Above this level could trigger further upside movement towards 0.7650.

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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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