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Nov 05 - 09:55 PM

AUD/USD - Lower As The USD Bounces On Early US Election News

By Andrew M Spencer  —  Nov 05 - 07:50 PM
  • Trades down 0.5% with the U.S. dollar up 0.6% as the first polls close

  • Expect further U.S. dollar volatility as the election unfolds

  • AUD/USD will be 100% driven by risk appetite and the U.S. dollar today

  • Charts; 5, 10 & 21-day moving averages conflict, 21-day Bolli bands contract

  • Rising daily momentum studies - signals have turned neutral from bearish

  • A close above 0.6648 21 DMA would target 0.6692 0.382% of the Sep/Oct fall

  • Tuesday's 0.6579 low and then Last week's 0.6537 base are the first support

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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