Technical analysis for the AUD/USD – 30.11.2015

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Earlier forecast and concerns about another bounce up to 0.7290/0.7300 mark confirmed. The pair reached strong resistance level 0.7280, which pushed the price back down. Trading is currently carried out below 0.7200 support at around 0.7195/90s. The indicators are unclear, although steady decline of the SS gives reasons to consider growing bearish potential and expect further decline, at first to 0.7140/50 support. The breakout of this barrier on the way down will be the final confirmation that bearish trend resumed. The first target on the way down in this case will be situated at 0.7080/70 support, and then at 0.7020. Retracement up above 0.7250/40 resistance, on the other hand, will postpone the resumption of the medium-term bearish trend.

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