(DAILY NOTION) AUD/USD Australian Dollar Rebounds Above 0.7700 After Yesterday's Sell-Off, Next Mover: U.S. Georgia Senate Runoff Election
Illustration photo of AUD/USD daily chart from Tradingview
AUD/USD is currently trading at 0.7714, trying to settles above 0.7710.
The uncertainty over the results of the Senate elections in Georgia will likely serve as a major catalyst for the American currency on the forex market today. Some traders may be unwilling to make any major moves before they get a clear picture of the U.S. political landscape.
It is possible to gain additional momentum in the short-term in case the right catalysts emerge as the RSI indicator reading remains in the overbought territory. As reported by Vladimir Zernov, He pointed out that AUD/USD will move towards the resistance level at 0.7740 if AUD/USD manages to settle above the resistance at 0.7710. AUD/USD will then move to the next resistance level at 0.7760 if it settles above the level at 0.7740.
On the support side, he pointed out that AUD/USD will move towards the next support level at 0.7675 if moves below the level at 0.7700. AUD/USD will head towards the next support which is located at 0.7635 if declines below 0.7700 level.
FOLLOWME AUD/USD Overall Sentiment (As of 06:00 p.m., Jan 05, 2021),
Short - 37.62%
Long - 62.38%
For information please refer to Vladimir Zernov.
Edited 05 Jan 2021, 18:13
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.