AUDUSD Daily Analysis – Monday, Nov. 5

AUDUSD extended its upside movement from 0.7020 to as high as 0.7258. Further rise is still possible after consolidation and next target would be at 0.7300 area.

Support is at 0.7150, a breakdown below this level would indicate that the upside movement had completed at 0.7258 already, then deeper decline towards the rising trend line on the 4-hour chart could be seen.

AUDUSD 4-hour chart

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