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Forecast for AUD/USD on November 29, 2021

The Australian dollar lost about 70 points on Friday, just barely reaching the target level of 0.7107 - to the August 20 low. The Marlin Oscillator is close to the oversold zone; it is turning up slightly. There are no obvious reversal signs, the price is likely to stay for two or three days in the 0.7107-0.7171 range before choosing a further direction.


On the 4-hour chart, price is showing a rising sentiment supported by a miniature convergence with the Marlin Oscillator. The MACD line is approaching the target level of 0.7171, strengthening it. Accordingly, settling above it will open the target level of 0.7227.


The material has been provided by InstaForex Company -