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22.11.202404:55 Forex Analysis & Reviews: Forecast for AUD/USD on November 22, 2024

Relevance up to 21:00 2024-11-22 UTC--5

While European currencies are contemplating whether to enter a correction, the Australian dollar is already gaining noticeable advantages from its seemingly hasty decision on November 15. A daily timeframe convergence is increasingly pushing prices higher with confidence.

Exchange Rates 22.11.2024 analysis

The Marlin oscillator is about to move into positive territory, enabling the price to confidently target the key level of 0.6640. By then, the MACD line will reinforce this level, potentially marking the end of the correction.

Exchange Rates 22.11.2024 analysis

On the four-hour chart, the price attempts to break through the resistance of the MACD line. A breakout above this line and yesterday's high (0.6535) would open the path to the first target at 0.6570. Consolidation above this level would pave the way for the second target at 0.6640.

However, if the price fails to surpass the resistance today, the move may be delayed until Monday or Tuesday, following a brief consolidation above the 0.6482 level.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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