AUDUSD analysis for 25.11.2020
Construction Work Done came lower than expected in Australia. The US will publish GDP, Durable Goods Orders, Goods Trade Balance, Unemployment Claims and Crude Oil Inventories.
The support rests at 0.0.73330 with resistance at 0.73900 which both lines are above the weekly pivot point at 0.73000. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is rising above level 50, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing weak buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 0.74000.