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30.11.202004:58 Forex Analysis & Reviews: Forecast for AUD/USD on November 30, 2020

AUD/USD

The aussie is rising this morning, under the impression of growth in counter-dollar currencies in the thin market from the second half of last week. But despite the growth, there is still a technical divergence with the Marlin oscillator on the daily chart. A reversal may occur in the 0.7380-0.7440 range. The first significant support is the MACD line at 0.7252, just below it is the technical record level of 0.7222, the 0.7222/52 range is likely to become a target.

Exchange Rates 30.11.2020 analysis

But the actual reversal is not yet available. The price has settled above the balance and MACD indicator lines on the four-hour chart and Marlin is moving up in the zone of positive values.

Exchange Rates 30.11.2020 analysis

The Reserve Bank of Australia will hold a meeting tomorrow, which may shake the optimism of speculators. The Australian stock market can no longer withstand the tension, falling 0.73% from the open amid the general rise in Asian markets (Nikkei 225 0.04%, China A50 1.32%).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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