FX.co - Analysis of Gold for November 17, 2023 - Key resistance zone on the test

2023-11-17T20:26:11

Relevance until2023-11-18

Technical analysis:

Analysis of Gold for November 17, 2023 - Key resistance zone on the test

AUD/USD has been trading upside and I see test of the resistance area 0.6520-0.6540. There is potential for the rejection or the upside breakout.

In case of the rejection of the key resistance at 0.6540, there is potential for the downside movement towards lower references at 0.6450 and 0.6400

In case of the upside breakout of resistance at 0.6540, there is the chance for the rally towards 0.6590

RSI oscillator is showing reading above 60, which is sign the buyers are in control.A

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for November 17, 2023 - Key resistance zone on the test