Dominated by Bears for the Umpteenth Time AUDUSD Trends Lower past 0.6769 Key Support Level


AUDUSD Price Analysis – November 28

AUDUSD depreciated to a session low past the level at 0.6769 and is now challenging the daily lower horizontal zone on the level at 0.6759 which is providing an added line of defense against sellers on the level at 0.6759 – just sitting nearby.

Key Levels
Resistance Levels: 0.7085, 0.7001, 0.6929
Support Levels: 0.6759, 0.6710, 0.6670

AUDUSD Long term Trend: Bearish

Currently, the exchange rate is testing a support level formed by the daily support near the level at 0.6769 area. If the support level holds, a brief retracement towards the daily moving average 5 on the level at 0.6778 may follow.

Overall, with an intact resistance of the level at 0.7085, the reversal of the trend is not yet clearly confirmed. That is, the downward trend since the fall from earlier highs is expected to continue to the level at 0.6670 (low) again.

AUDUSD Short term Trend: Bearish

The AUDUSD drop of the level at 0.6929 is still in progress. Intraday bias stays down to repeat the tests of the level at 0.6670 first. On the upside, a resistance above the level at 0.6803 minor resistance may neutralize intraday bias and provide recovery. But the rise should be limited well below the level at 0.6929 resistance.

Sellers may take advantage of the trend if price stays below the low threshold of the level at 0.6769, where other sell stops may be activated. The outlook stays bearish, displaying an intact downtrend in the short, and long term.

Instrument: AUDUSD
Order: Sell
Entry price: 0.6769
Stop: 0.6834
Target: 0.6670

Note: 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

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.