The AUDUSD hasn’t moved much thanks to Thanksgiving day – USD holiday but as I stated in the EURAUD analysis, EUR is weak, AUD is stronger and EURAUD got rejected from POC. AUDUSD still has the chance to reach 0.7340. Technically the pair rallied more than 250 pips after Adam and Adam rejection which was followed by Inverted head and Shoulders pattern variant. I have been warning that AUDUSD is buy on rallies and there is still a possibility that the pair will reach 0.7340 short term.
Next POC zone is 0.7180-65 (E89,88.6, L3, WPP, historical buyers) but we also need to pay attention to 0.7200 as the pair could reject from the level before reaching POC zone. Volatility is still thin due to USD holiday, and better movement is expected next week.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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