FX.co - AUD/USD Update for November 28, 2023 - Rising trendline on the test

2023-11-28T09:14:10

Relevance until2023-11-29

Technical analysis:

AUD/USD Update for November 28, 2023 - Rising trendline on the test

AUD/USD has been trading sideways 0.6605 and I see potential rejection of the rising trending or the breakout.

In case of the downside breakout of the rising trend-line and support at 0.6575, I see potential for the further drop towards 0.6525 and 0.6455

In case of the rejection of the rising trend-line, I see potential for the further rally towards 0.6700

RSI oscillator is showing neutral reading around 50 level.

*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 ★ AUD/USD Update for November 28, 2023 - Rising trendline on the test