Technical analysis of AUD/USD 11/24/2023

The AUD/USD currency pair at (1D) in a downtrend.

The price dropped to the support of 0.6270 and is currently consolidating in the area of 0.6550 (MA200).

The technical picture suggests the development of an upward correction with the nearest target at 0.6600 (38.2% Fibo). If the level of 0.6600 is broken, then the next target will be the level of 0.6700 (50% Fibo).

The nearest support is the level 0.6480 (MA100).

Cancellation of the option for the development of an upward correction will be a decrease in quotes below 0.6270, which will be a signal for the continuation of the downtrend.


Created by Joshua Hayn

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