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26.11.2024 05:00 AM
Forecast for AUD/USD on November 26, 2024

This morning, the Australian dollar broke significantly below the support level of 0.6482, aiming for 0.6410 and potentially 0.6351 (the low from August 5).

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If the excitement surrounding Trump's tariff policies escalates, the price may continue its downward movement. However, we anticipate a correction of at least 0.6570 (close to the 23.6% Fibonacci level) or 0.6640 (38.2% Fibonacci level).

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In the four-hour timeframe, the price quickly fell back below the balance and MACD lines after yesterday's false breakout above them. The Marlin Oscillator is declining within the territory of a downward trend. The support at 0.6410 will likely be tested, ultimately leading to a double divergence on the daily chart.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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