The AUDUSD under the negative pressure – Analysis - 28-11-2022

Economies.com
2 months ago

The AUDUSD pair opened today’s trading with clear negativity affected by the negative Australian retail sales data, to break the support line that appears on the chart and reach the thresholds of the most important support at 0.6650, noticing that the price attempts to recover now, which encourages us to suggest the bullish bias for the upcoming sessions, waiting to visit 0.6767 as a first main station.

 

Therefore, we expect to witness positive trades today supported by stochastic positivity, noting that breaking 0.6650 will put the price under additional negative pressure and cause key trend turn to the downside.

 

The expected trading range for today is between 0.6640 support and 0.6760 resistance

 

The expected trend for today: Bullish

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