Daily Technical Analysis:AUD/USD、Crude Oil
Welcome to our daily technical analysis of the financial markets, focusing today on AUD/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. AUD/USD Analysis:
News Summary:
Australia's business confidence index fell sharply in November, and indicators measuring employment, sales and profitability weakened further, which once again showed that Australia's private economic sector is under tremendous pressure. The business confidence index fell 8 points to -3 points in November, reversing the gains in October. The business climate index dropped from 7 points to 2 points, with all three sub-indices at or below average. Overall, surveys suggest economic growth will remain weak in the fourth quarter.
Trend Analysis:
We can see AUD/USD fluctuated at the bottom and ran below the 48 hours moving average on H4 chart. In addition, the MACD double line and energy bar expand below the zero axis. The sell limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [0.6250]
Key Resistance Levels: [0.6400]
Pivot Points [0.6360]
2. Crude Oil Analysis:
News Summary:
Crude oil prices fell after news that Mexican state-owned oil producer Pemex has resumed full operations at all platforms in the Gulf of Mexico. The news comes as the annual hurricane season ends and weather conditions improve, meaning more supply is about to return to the market. Meanwhile, the U.S. dollar index rose, boosted by U.S. retail sales data. Data showed that the U.S. economy expanded at its fastest pace in 33 months, reflecting the continued resilience of U.S. consumers.
Trend Analysis:
We can see crude oil fell slightly and was running near the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy column are expanding above the zero axis. The buy limit could be used, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [68.00]
Key Resistance Levels: [72.00]
Pivot Points [69.30]