Home Forex AUD/USD on Edge of Key Support Less Than 2 Days Before US Election

AUD/USD on Edge of Key Support Less Than 2 Days Before US Election

by kyngsam


2020 Election, Evaluation, 2020 Polls, Biden-Trump Unfold, AUD/USD Outlook – Speaking Factors

  • Election day lower than 2 days away – what elements could trigger a surge in volatility?
  • Biden continues to steer within the polls inside his 7-point, multi-week common vary
  • AUD/USD appears reluctant to fall beneath assist at 0.7018 forward of election night time

2 DAYS UNTIL THE US PRESIDENTIAL ELECTION

The highly-scrutinized US presidential election is lower than 2 days away, and polls proceed to indicate former Vice President and Democratic nominee Joe Biden within the lead. The unfold between him and Republican incumbent Donald Trump continues to hover within the tough 7-point common that Mr. Biden has saved for just a few months.

2020 US Election Polls

Source: RealClearPolitics

Nevertheless, votes for Mr. Trump could surge on election day, on condition that Republican voters are statistically extra inclined to solid the poll in-person than their mailing-inclined Democratic counterparts. A sudden spike might spark premonitions of one other 2016-like election response the place Mr. Trump was unexpectedly declared the winner. The consequence introduced unusually excessive volatility as merchants re-positioned themselves for an sudden political setting.

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AUD/USD Outlook

AUD/USD seems to be reluctant to interrupt beneath a multi-month inflection level courting again to December 2019 at 0.7018. From there, it oscillated between resistance and assist. Extra not too long ago it has functioned on the latter because it continues to be guided decrease by steep descending resistance. Cracking that flooring might open the door to retest the July lows at 0.6829.

AUD/USD – Each day Chart

Chart showing AUDUSD

AUD/USD chart created utilizing TradingView

— Written by Dimitri Zabelin, Forex Analyst for DailyFX.com

To contact Dimitri, use the feedback part beneath or@ZabelinDimitrion Twitter





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