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AUD/USD Daily Technical Analysis | 20 November 2017

2017-11-20 08:36 am | Resource: Technical Analysis Section | No Views : 148

AUD/USD is trading in a generally bearish direction on the hourly frame due to weak buyers, which led to a breach of the 0.7570 resistance level.

AUD/USD Daily Technical Analysis | 20 November 2017

Currently, our neutral view of the pair as the pair is trading in a narrow range from 0.7566 to 0.7552.
RSI 14 broke through the bearish trend line and traded above the 50 level.
It is expected that if the Australian currency crosses against the US currency the level of 0.7549 might target the areas of 0.7461 on the other hand, if the breach of the pair to the level of 0.7570 may target the level of 0.7606.
Support: 0.7535 - 0.7461- 0.7403
Resistance: 0.7570 - 0.7622 - 0.7711
Trend: neutral

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