AUD / USD
The Australian dollar seems to have decided to become a market leader in both the fall and the rise. Behavior, however, is not leadership, which will certainly be reflected in the subsequent situation. At the moment, the price tends to work out the point of coincidence of the balance line with the Kruzenshtern line on the daily timeframe, 0.7175. And there are big doubts about the ability of the "Australian" to overcome this resistance. According to AIG, the business activity index in the Australian manufacturing sector dropped from 51.3 to 49.5 in the last month; New construction in November is projected to decrease by -0.3%.
We follow the development of the situation. A decisive price exit above 0.7175 opens a target of 0.7310. a drop in quotes below 0.7026 (Kruzenshtern line on H4) returns the pair to the medium-term decrease.
The material has been provided by InstaForex Company - www.instaforex.com
