AUDUSD Continues on the Decline and Stays Below 0.7200

Updated:

AUDUSD Price Analysis – November 25

AUDUSD – The Australian dollar is losing ground against the US dollar, down 0.17 percent to 0.7179 intraday low at the time of writing. Despite thin liquidity conditions, European indices are up, owing to the Thanksgiving holiday in the United States. The intraday profit-taking plunge in the US dollar was tempered by aggressive Fed predictions, which acted as a headwind for the major.

Key Levels
Resistance Levels: 0.7300, 0.7250, 0.7200
Support Levels: 0.7150, 0.7100, 0.0.6950
AUDUSD Long term Trend: Bearish
The AUDUSD trend has turned bearish, which is bolstered by the fact that technical indicators on the daily chart have driven into negative territory. Follow-through selling below moving averages 5 and 13, around 0.7170, will strengthen the bearish bias and expose the AUDUSD pair to additional weakness.

Any effort at a comeback, on the other hand, risks fizzling out at the moving average 5 resistance breakpoint at 0.7220. This, in turn, should operate as a significant barrier, which, if forcefully overcome, might drive some short-covering and push the AUDUSD pair back towards the round figure of 0.7300.
AUDUSD Short term Trend: Bearish
The momentum indicators on the 4-hour time frame, on the other hand, are currently pointing to a continued sell-off in the near term. The RSI is continually below the oversold level of 40, and the 4-hour moving averages 5 and 13 are falling and above price while remaining negative.

However, a closing price above the near-term high of 0.7300 in consecutive sessions might pique buyer interest and affirm further increases towards the 0.7555 hurdles, which have been high since End of Oct. 2021. On the contrary, the 0.7105 support, which was identified as support in August 2021, could be the next target.

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.