AUD/USD consolidates within positive territory despite Trump victory

Currently, AUD/USD is trading at 0.7651, down -1.51% on the day, having posted a daily high at 0.7780 and low at 0.7580.

AUD/USD is consolidating the Trump victory in the general uncertainty. The win was a shock to many but the fact was bought back which has resulted in surprisingly stable markets. "Global capital markets have been roiled by Trump's stunning victory," explained analysts at Brown Brothers Harriman, adding  "and the Republicans hold of both houses of Congress.  The initial reaction was dramatic and severe.  The dollar and equities were crushed and bonds rallied as the message from the electorate was clear.  However, in late Asia, the markets reversed and early moves were retraced. "

AUD/USD levels

Spot is presently trading at 0.7652, within the daily uptrend, and next resistance can be seen at 0.7652 (Weekly Classic PP), 0.7654 (Daily 20 SMA), 0.7659 (Hourly 200 SMA), 0.7660 (Daily Classic S2) and 0.7660 (Weekly Low). Support below can be found at 0.7630 (Daily Classic S3), 0.7606 (Weekly Classic S1), 0.7588 (Daily 100 SMA), 0.7580 (Daily Low) and 0.7539 (Monthly Low).