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11 Nov, 2024
5 minutes

Daily Technical Analysis:AUD/USD、Gold

Welcome to our daily technical analysis of the financial markets, focusing today on AUD/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.


1. AUD/USD Analysis:
News Summary:
The Federal Reserve continued to cut interest rates by 25 basis points, causing the US dollar to fall and the Australian dollar to take the opportunity to rebound. Regarding the two major events of Trump's victory and the Federal Reserve's continued interest rate cuts in November, the chairman of the Reserve Bank of Australia said that it is difficult to judge the impact of the U.S. election on inflation at this stage, but policymakers will pay close attention and respond if necessary. Since the market has been expecting the RBA to be the central bank among developed economies that is most likely to significantly delay interest rate cuts, interest rate differential factors may provide some support to the Australian dollar.

Trend Analysis:
We can see AUD/USD rebounded and ran near the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column is oscillating below the zero axis. The sell limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [0.6520]
Key Resistance Levels: [0.6670]
Pivot Points [0.6630]
2. Gold Analysis:

News Summary:
The gold market has been hit hard by a stronger U.S. dollar, with prices recording their biggest weekly drop in more than five months. As the market digested the results of the U.S. election and the Federal Reserve's latest interest rate cut, investor funds flowed into alternative assets. After former U.S. President Trump won the election, uncertainty about future policies became the focus of investors. The Federal Reserve cut interest rates by 25 basis points in its interest rate decision-making meeting after the election but expressed caution.

Trend Analysis:
We can see gold H4 level encountered resistance and fell back and is still running below the 48 hours moving average. In addition, the MACD double line and energy bar converges below the zero axis. The sell limit could be placed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [2650]
Key Resistance Levels: [2690]
Pivot Points [2680]

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