AUD ahead of the elections

[Jptrader]

Technically spreaking
AUD is currently testing 89 is key support that there is a great possibility it will break to the downside, looking for a short term continuation to 88.75 / 88.50 region. If this proves to be a false break out we will see 89.00 become resistance, if instead there is a continuation to the downside, which is more likely, once 88.50 is broken we can 87.69 which is 50% retracement from 83.08 low to 92.18 high.

Jp






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[jackie101]

Interesting. I have seen that the Yen gained against most of its major currencies after worse than expected U.S. economic reports increased investor appetite for the currencies’ relative safety.