AUDUSD analysis 23.11.2020

The Australian dollar against the US dollar is crawling quietly to the upside, approaching a test of pivotal resistance at 0.7340, which represents the ascending triangle resistance whose features are shown in the image, which means that the breach of this level will form a good positive motive that supports the chances of a rush towards our main awaited target at 0.7413.

Thus, the bullish trend scenario will remain valid and effective for the upcoming period, supported by the EMA50, noting that stability above 0.7260 and 0.7210 levels is important for the continuation of the suggested ascend.

The expected trading range for today is between 0.7260 support and 0.7400 resistance

The expected general trend for today: Bullish