DAILY FOREX MARKET BRIEFING: AUDUSD MARKET OUTLOOK
November 23/2021
The Australian dollar extend loss against the greenback while the market approach the depth of the support line. On tuesday the broad-based price direction of AUDUSD exist along the bearish zone. After a stronger than expected US economy reports echo through out the major currency market last week.
With this in mind, the majority of market participants are left in a sceptical trading mood.
From the hourly chart the trend direction of AUDUSD remain bearish, while the daily and weekly chart print a bearish and neutral market condition.
In general market expect to find support at 0.71969 before surging to the previous resistance line of 0.726.
Fundamental analysis around the perfomance of Aussie and the green back
The Awareness of a dovish Reserve Bank of Australia (RBA) and across boards US economic strength was inclined to push the value of AUDUSD pair lower.
Lately the US President Joe Biden has reappointed Federal Reserve Chair Jerome Powell for a second term, which will be a trigger for enhancing the risks for interest rate hikes in 2022
To prevent yourself from suspicious brokers I choose WikiFx to research brokers:
November 23/2021
The Australian dollar extend loss against the greenback while the market approach the depth of the support line. On tuesday the broad-based price direction of AUDUSD exist along the bearish zone. After a stronger than expected US economy reports echo through out the major currency market last week.
With this in mind, the majority of market participants are left in a sceptical trading mood.
From the hourly chart the trend direction of AUDUSD remain bearish, while the daily and weekly chart print a bearish and neutral market condition.
In general market expect to find support at 0.71969 before surging to the previous resistance line of 0.726.
Fundamental analysis around the perfomance of Aussie and the green back
The Awareness of a dovish Reserve Bank of Australia (RBA) and across boards US economic strength was inclined to push the value of AUDUSD pair lower.
Lately the US President Joe Biden has reappointed Federal Reserve Chair Jerome Powell for a second term, which will be a trigger for enhancing the risks for interest rate hikes in 2022
To prevent yourself from suspicious brokers I choose WikiFx to research brokers: