For Traders

Analytical Reviews

Technical analysis

22.11.202105:43 Forex Analysis & Reviews: Forecast for AUD/USD on November 22, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The Australian dollar dropped 43 points on Friday, 19th November, hitting the target level of 0.7227 at the low of the day. Now the price has two possible options: turn into corrective growth, settle below the reached level and continue to decline to the target of 0.7107 - to the low on August 20. If the price settles above the MACD indicator line, above the level of 0.7330, then the growth will continue to the target level 0.7414, probably with the intention of a mid-term increase.

On the four-hour timescale, the price double convergence with the Marlin Oscillator persists, which increases the likelihood of a corrective growth. With the price breaking above the MACD line, above 0.7265, we expect local growth to the level of 0.7330. To consolidate the price below the level of 0.7227, it is necessary to wait for the close of the day below this level, which means an increased risk of selling today.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.