Following yesterday's U.S. elections, AUD/USD reached new monthly lows, touching 0.65132 after an extended bearish trend. On the 4-hour timeframe, the pair has formed a double-bottom pattern, a potential reversal signal, indicating that bullish momentum may be building.
Given the current political landscape post-election, the USD could experience fluctuations as markets digest potential shifts in U.S. fiscal policy. This environment could create an opening for AUD/USD to pivot upward. With the technical setup and supportive conditions, AUD/USD appears poised for a potential rally in the coming days.
Traders should monitor resistance levels closely and keep risk management strategies in place, as post-election sentiment can lead to rapid market adjustments.
Given the current political landscape post-election, the USD could experience fluctuations as markets digest potential shifts in U.S. fiscal policy. This environment could create an opening for AUD/USD to pivot upward. With the technical setup and supportive conditions, AUD/USD appears poised for a potential rally in the coming days.
Traders should monitor resistance levels closely and keep risk management strategies in place, as post-election sentiment can lead to rapid market adjustments.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.