AUD/USD Outlook (05 November 2020)
Overall, AUD/USD is ranging across. Recently, AUD/USD moved higher and bounced down from the key level of 0.72.
The Australian Trade Balance data (Actual: 5.63B, Forecast: 3.70B, Previous: 2.62B revised from 2.64B) released earlier today indicated an increase in trade surplus in September.
The Reserve Bank of Australia will be releasing the monetary policy statement tomorrow at 0830 (SGT). Take note of the central bank’s economic projections.
AUD/USD’s next support zone is at 0.70400 and the next resistance zone is at 0.72200.
Since the result of the U.S. Presidential Election is not yet finalized, look for short-term selling opportunities of AUD/USD.
The Australian Trade Balance data (Actual: 5.63B, Forecast: 3.70B, Previous: 2.62B revised from 2.64B) released earlier today indicated an increase in trade surplus in September.
The Reserve Bank of Australia will be releasing the monetary policy statement tomorrow at 0830 (SGT). Take note of the central bank’s economic projections.
AUD/USD’s next support zone is at 0.70400 and the next resistance zone is at 0.72200.
Since the result of the U.S. Presidential Election is not yet finalized, look for short-term selling opportunities of AUD/USD.