EUR/AUD forecast for November 23, 2020

Looking at the chart, we will see that the EUR/AUD  pair is moving in the side channel with support at 1.62000, and from the top, we have resistance at 1.65000. It is currently at 1.63000, where we are waiting for it to cross the trend line to have better confirmation for buying euros.
According to the latest Markit Economics survey on Monday, Australia’s manufacturing sector continued to expand at a faster pace in November with a PMI score of 56.1. Production and sales increased at faster rates. In particular, new orders grew at the quickest rate over almost two years despite a further decline in export sales.
The research also showed that the services index rose to 54.9 from 53.8, while the composite index reached 54.7 – from 53.6 a month earlier. Eurozone consumer confidence weakened for the second month in a row in November to get a six-month low as countries such as Germany and France returned to the blockade due to a resurgence of the coronavirus pandemic.
Interim analysis from a large clinical trial. Monday’s announcement combines data from two different dosing regimens. When the vaccine was given in half the dose and then in the full dose, it had an efficiency of 90 percent. When given in two maximum doses, it showed an efficiency of 62 percent.
Europe could face the third wave of the coronavirus pandemic in early 2021 if governments repeat the mistakes that led to the second wave this year, the special envoy of the World Health Organization, COVID-19, said on Sunday. Any news about the vaccine and its progress and the global acceleration in the number of new infections worldwide are likely to affect this currency pair’s future movement.