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26.11.202005:06 Forex Analyse & Reviews: AUD/USD Forecast for November 26, 2020

AUD/USD

The Australian Dollar was ready yesterday to turn from the target resistance 0.7380, a decline of 50 points, but the European currencies showed the optimism of American investors out of the market before today's holiday. As a result the Aussie closed the day up 5 points. The potential for divergence formation on the daily chart remains. The level of 0.7380 has not been overcome but the probability of this has increased. The target in this case is the 0.7440 level.

Exchange Rates 26.11.2020 analysis

On the four-hour chart, the price punctured the Kruzenshtern line twice yesterday but this was in a growing trend, as the price remained above the balance indicator line. The signal line of the Marlin oscillator has created a wedge-shaped structure, from which an upward exit is expected.

Exchange Rates 26.11.2020 analysis

So, with a probability of 80%, the price is likely to go above the level of 0.7380 and further increase to 0.7440.

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

Uitgevoerd door Laurie Bailey,
Analytische expert
InstaForex Group © 2007-2021
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