AUD/USD Nov. 24 – Bouncing At Resistance

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AUD/USD manged to recover after reaching low support and bounced off resistance. Will it managed to break higher or does this bounce mean more falls on this busy day? Here’s a quick update on technicals, fundamentals and community trends.

aud to usd forecast november 24

AUD to USD under 0.9863.

AUD/USD Technicals

  • Asian session:  Active session sees Aussie trading in range.
  • Current Range: 0.9725 to 0.9860
  • Further levels in both directions: Below  0.9725, 0.9660. Above 0.9863, 0.9915, 1.0000, 1.0080, 1.0180, 1.0220, 1.03.
  • Parity is a big technical hurdle.
  • Significant support is at 0.9660.

AUD/USD Fundamentals

  • 00:30 Australian Construction Work Done. Exp. 2.3%. Actual -2.1%.
  • 13:30 US Unemployment Claims. Exp. 434K. Actual 407K – big surprise.
  • 13:30 US Durable Goods Orders. Exp. +0.2%, actual -3.3%. Core figure exp. +0.7%. Actual -2.7%. Big disappointment.
  • 13:30 US Personal Spending. Exp. +0.5%, actual +0.4%.
  • 13:30 US Core PCE Price Index. Exp. +0.1%. Actual 0%.
  • 13:30 US Personal Spending. Exp. +0.4%.
  • 14:55 US Revised Consumer Sentiment. Exp. 69.5 points. Actual 71.5.
  • 15:00 US New Home Sales. Exp. 311K. Actual. Big disappointment.
  • 00:30 (Thursday) Australian Private Capital Expenditure. Exp. +3.2%.

AUD/USD Sentiment

  • North Korean attack on South Korea surprises the world and triggers risk aversive trading. The Aussie is sensitive to this news.
  • Contagion spreading: Fears that Spain and Italy will also need bailout packages impacts the whole world, not only the Euro. European debt issues hurt the Aussie.
  • Currensee Community: 91% are short, 9% are long. 365 open positions in real accounts trading this pair at the moment. The community continues seeing more falls in AUD/USD.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.