On Thursday (November 24), the Asian market rebounded slightly, and the Australian dollar/dollar rebounded slightly. It once again stood above the 0.9700 integer mark and is currently trading around 0.9730. The exchange rate is below the 20-day moving average and short-term indicators are still bearish.
There are well-known institutions that the Australian dollar/dollar fell below the support level of 0.9807 yesterday, dropping to a six-week low near 0.9660, this week will maintain the decline.
The agency said that in the past four weeks, the Australian dollar/US dollar fell nearly 1100 points, but the decline has just started. On the daily chart, the indicator is bearish and has broken below the midline, but it is far from the oversold area. This shows that before the end of the year, the AUD/USD will go lower.
The agency also said that the Australian dollar/dollar support is located at 0.9660, 0.9620 and 0.9580. Resistance is located at 0.9725, 0.9770 and 0.9810.
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