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AUD/USD Intraday: the downside prevails as long as 0.6511 is resistance

Nov 20, 2024 3:28 PM
the downside prevails as long as 0.6511 is resistance.
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Our pivot point is at 0.6511.
Our preference:
the downside prevails as long as 0.6511 is resistance.
Alternative scenario:
the upside breakout of 0.6511, would call for 0.6539 and 0.6555.
Comment:
the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6509 and 0.6520).
Supports and resistances:
0.6555 **
0.6539 *
0.6511 **
0.6501
0.6490 last
0.6452
0.6436 **
0.6420 *
0.6404 **
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AUD/USD
0.65143
0.00120
+0.18%