AUDUSD Wave Analysis 28 November 2024
- AUDUSD reversed from pivotal support level 0.6450
- Likely to rise to resistance level 0.6550
AUDUSD currency pair recently reversed up from the pivotal support level 0.6450 (which has been reversing the price from April) standing near the lower daily Bollinger Band.
The upward reversal from the support level 0.6450 formed the daily Japanese candlesticks reversal pattern Bullish Engulfing. This support level also formed the daily Morning Star earlier this month.
Given the strength of the support level 0.6450 and the bullish divergence on the daily Stochastic, AUDUSD currency pair can be expected to rise to the next resistance level 0.6550 (top of the previous correction ii).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.