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An overview of the status of the AUD/USD on 29/11/2023-An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

• First key support level of EUR/USD: 1.09627
• Second Key support level of EUR/USD: 1.09288
• Third Key support level of EUR/USD: 1.09627
• First key resistance level of EUR/USD: 1.09959
• Second Key resistance level of EUR/USD: 1.10166
• Third Key resistance level of EUR/USD: 1.10937

• First key support level of USD/CHF: 0.875958
• Second Key support level of USD/CHF: 0.8721
• Third Key support level of USD/CHF: 0.87
• First key resistance level of USD/CHF: 0.878328
• Second Key resistance level of USD/CHF: 0.881868
• Third Key resistance level of USD/CHF: 0.8848

• First key support level of GBP/USD: 1.26729
• Second Key support level of GBP/USD: 1.26368
• Third Key support level of GBP/USD: 1.26000
• First key resistance level of GBP/USD: 1.27252
• Second Key resistance level of GBP/USD: 1.27905
• Third Key resistance level of GBP/USD: 1.28720

• First key support level of USD/JPY: 147.199
• Second Key support level of USD/JPY: 146.000
• Third Key support level of USD/JPY: 144.778
• First key resistance level of USD/JPY: 148.390
• Second Key resistance level of USD/JPY: 149.636
• Third Key resistance level of USD/JPY: 151.700

 

An overview of the status of the AUD/USD on 29/11/2023

As mentioned in our previous analysis of the AUD/USD currency pair dated 01/11/2023, the market has finally shifted direction in favour of the buyers, resulting in a price increase.

Since the start of this month, the currency pair has experienced an excellent upward trend, and buyers have reached the highest price level of 0.66762.

In the current situation, there is no clear and transparent reason to reduce the price according to the type of price movements formed in long-term periods such as monthly and weekly.If the current resistance levels, such as 0.66762, are broken, the price may rise further to reach the resistance levels of 0.67180 and 0.68000.

After reaching the upward trend line formed by three price peaks, the price stopped growing during its ascents. Some sellers began liquidating transactions. The first important signal for the return of the upward trend and the strengthening of buying transactions is formed by the breaking of this downward trend line.

The oversold price in the daily and 4-hour periods may result in an upward trend correction. If there is more desire to correct the upward and downward trend of the price, it can be considered a significant support level behind the price of 0.66000 and, in a more severe form, 0.65200.

 

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