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FxWirePro: AUD/USD probes 200W MA, heading towards 0.7413 (2020 high)

Friday, November 6, 2020 7:59 AM UTC

AUD/USD chart - Trading View

Technical Analysis: Bias Bullish

- AUD/USD consolidates break above daily cloud

- Price action tests 200W MA, decisive close above will buoy prices

- MACD shows bullish crossover on signal line

- Bullish 5-DMA crossover on 20-DMA supports near-term upside

Support levels - 0.7241 (200W MA), 0.7131 (61.8% Fib), 0.7060 (110-EMA)

Resistance levels - 0.73, 0.7413 (2020 high till date), 0.7573 (78.6% Fib)

Summary: AUD/USD risks remain skewed to the upside. Watch out for decisive close above 200W MA for further gains.

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FxWirePro: AUD/USD probes 200W MA, heading towards 0.7413 (2020 high)

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