AUDUSD Daily Analysis – Friday, Nov. 9

AUDUSD extended its upside movement from 0.7020 to as high as 0.7302. Further rise is still possible and next target would be at 0.7340 area.

Support is at 0.7220, a breakdown below this level would indicate that the upside movement had completed at 0.7302 already, then deeper decline towards the bullish trend line on the 4-hour chart could be seen.

AUDUSD 4-hour chart

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