FX:AUDUSD   Australian Dollar/U.S. Dollar
25 0 1
Current trend

Non-Farm payrolls for October is due on Friday in the US. If the indicator comes in below the forecast, the Fed would be less likely to raise its interest rates before the end of the year and the USD would be under pressure.
According to TD             Securities statistics, released today in Australia, zero inflation was recorded in October. On an annual basis, the indicator grew by 1.8% against a 1.9% forecast. RBA Commodity Index left an annual decline at 19.8% in October.
The RBA meeting is due tomorrow. Due to weak inflation and economic growth indicators, the Regulator may lower it interest rates. Otherwise, the AUD/USD             pair would strengthen.

Support and resistance

An upward correction has stopped at the resistance level of 0.7155 (EMA144 on the hourly chart). OsMA and Stochastic indicators recommend short positions.
The breakdown of the lower border 0.7070 of an upward channel on the daily chart may allow the price to decline to year lows at 0.6900. Alternatively, the price may grow to 0.7380 (October highs), 0.7430 (EMA144 on the daily chart ), 0.7500 (23.6% Fibonacci) but only after the consolidation above the level of 0.7190 (EMA50 on the daily chart ).
Support levels: 0.7100, 0.7070, 0.6960, 0.6910.
Resistance levels: 0.7155, 0.7170, 0.7190, 0.7325, 0.7380, 0.7400, 0.7430.

Trading tips

Short positions can be opened from the level of 0.7115 with targets at 0.7070, 0.7010, 0.6960, 0.6910 and stop-loss at 0.7180.
Long positions can be opened from the level of 0.7210 with targets at 0.7290, 0.7380, 0.7430 and stop-loss at 0.7170.
More analytic from LiteForex:
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