21.11.201901:34 Forex Analysis & Reviews: Trading idea for the AUD/USD pair

Good evening, dear traders! The growth of AUD / USD is what is interesting today. As we remember, unemployment data was published in Australia last week on November 14, to which this instrument reacted negatively: the AUD/USD currency pair was declining throughout the whole day. An important detail is that during the fall, an important extreme at 0.6810 was updated. Thus, I believe that this was a culmination of the downward trend in November, and given the reaction of the Australian dollar to this week's news, I think that local growth is possible to the level of 0.6843, which is the news' high on Wednesday. Now, why exactly this level? It's simple - every seller who believes in a further fall of this instrument will clearly depend precisely on the news impulse on November 14, so the price can go there with a high degree of probability.

Recommendation: try to buy in order to update the level of 0.6943. At the same time, losses can be limited to the lowest level of 0.6788 - there is no sense in holding purchases below, and in case of updating this minimum, the bullish scenario can be considered invalid.

Wishing you all success in trading and huge profits!