(DAILY NOTION) AUD/USD Australian Dollar Rebounds Above 0.7700 After Yesterday's Sell-Off, Next Mover: U.S. Georgia Senate Runoff Election

Illustration photo of AUD/USD daily chart from Tradingview

AUD/USD is currently trading at 0.7714, trying to settles above 0.7710.

The uncertainty over the results of the Senate elections in Georgia will likely serve as a major catalyst for the American currency on the forex market today. Some traders may be unwilling to make any major moves before they get a clear picture of the U.S. political landscape.

It is possible to gain additional momentum in the short-term in case the right catalysts emerge as the RSI indicator reading remains in the overbought territory. As reported by Vladimir Zernov, He pointed out that AUD/USD will move towards the resistance level at 0.7740 if AUD/USD manages to settle above the resistance at 0.7710. AUD/USD will then move to the next resistance level at 0.7760 if it settles above the level at 0.7740.

On the support side, he pointed out that AUD/USD will move towards the next support level at 0.7675 if moves below the level at 0.7700. AUD/USD will head towards the next support which is located at 0.7635 if declines below 0.7700 level.

FOLLOWME AUD/USD Overall Sentiment (As of 06:00 p.m., Jan 05, 2021),

Short - 37.62%

Long - 62.38%

For information please refer to Vladimir Zernov.