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30.11.2022 03:30 PM
AUD/USD Technical Analysis and Trading Tips for November 30, 2022

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The Australian dollar and the AUD/USD pair are rising today. As of writing, AUD/USD was trading near 0.6722, in the short-term bull market zone, above the support levels 0.6690 (200 EMA on the 1-hour chart) and 0.6600 (200 EMA on the 4-hour chart), while remaining in the long-term bearish market zone, below the key resistance levels 0.6760 (144 EMA on the daily chart), 0.6840 (200 EMA on the daily chart), 0.6900 (50 EMA on the weekly chart).

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In view of this, short positions remain preferable below the resistance levels 0.6760, 0.6840, 0.6900. But for their resumption, a signal is needed. The first such signal will likely be the breakdown of the 0.6690 support level, and the confirming one will be the 0.6600 support level.

A break of the 0.6600 support level will also mean a revival of the downward dynamics and a return of AUD/USD inside the downward channel on the weekly chart.

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Alternatively, AUD/USD will again attempt to break into the zone above the 0.6760 resistance level. But, most likely, there will be a rebound from this level or a little higher and closer to the 0.6840 key resistance level, and further movement will follow a scenario that is negative for AUD/USD.

Support levels: 0.6690, 0.6638, 0.6600, 0.6565, 0.6500, 6455, 0.6380, 0.6285, 0.6200, 0.6170, 0.5975, 0.5665, 0.5510

Resistance levels: 0.6760, 0.6800, 0.6840, 0.6900

Trading Tips

Sell Stop 0.6660. Stop-Loss 0.6785. Take-Profit 0.6638, 0.6600, 0.6565, 0.6500, 6455, 0.6380, 0.6285, 0.6200, 0.6170, 0.5975, 0.5665, 0.5510

Buy Stop 0.6785. Stop-Loss 0.6660. Take-Profit 0.6800, 0.6840, 0.6900

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