AUD/USD technical analysis (daily chart): Nov 13th 2023
This is on the scrappy side, but AUD/USD’s ability to hold above the 63c area despite data and headlines suggesting it should have broken lower already should not be ignored. A small bullish hammer formed on Friday, and as it has fallen for five consecutive days then odds suggest we maybe nearing an up day. Any pullbacks towards 63c / 0.6314 (the most traded prices during the prior consolidation) will pique my bullish interest for a initial move to 64c. A break above which brings 0.6450 into focus.
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This is on the scrappy side, but AUD/USD’s ability to hold above the 63c area despite data and headlines suggesting it should have broken lower already should not be ignored. A small bullish hammer formed on Friday, and as it has fallen for five consecutive days then odds suggest we maybe nearing an up day. Any pullbacks towards 63c / 0.6314 (the most traded prices during the prior consolidation) will pique my bullish interest for a initial move to 64c. A break above which brings 0.6450 into focus.
From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.