News: AUD/USD Price Analysis - Wiki-Forex

AUD/USD Price Analysis

17.11.2020 | 09:34
  1. AUD/USD stays confident above 50-bar SMA, monthly support line.
  2. Overbought RSI conditions, nearness to key resistances challenge bulls.
  3. AUD/USD keeps light winnings above 0.7300, currently nearby 0.7322, during early Tuesday.

The AUD/USD maintained trading beyond 50-bar SMA, and an upward askew trend line from November 02 takes hints from bullish MACD to recommend further upside. However, overbought RSI conditions show pullback from resistance levels.

Amid them, the monthly high of 0.7340, marked on November 09, could become the first one to end the short-term buyers ahead of directing them to more than a three-week-old resistance line, near 0.7370 now.




In a case where the AUD/USD bulls ignore RSI conditions, also overcome the key resistances stated above, the 0.7400 round-figures and the yearly top encircling 0.7440 will be in the attention.

Alternatively, a downside break of 0.7270/75 support crowd, including the stated SMA and a two-week-long rising trend line, will have to slip beneath a short-term horizontal area around 0.7240/45 to recall the bears.

Overall, the gradual upside force is likely to continue, though with a few corrective pullbacks.