AUDUSD Daily Analysis – November 28, 2016

AUDUSD broke above 0.7444 resistance, indicating that the downtrend from 0.7778 had completed at 0.7310 already. Range trading between 0.7310 and 0.7500 is possible over the next several days. Resistance is at 0.7500, as long as this level holds, the downtrend from 0.7778 could be expected to resume, and further decline to 0.7200 area is still possible.

audusd chart