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AUDUSD is trending in a pennant flag pattern - more upside?

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
ToniSignals Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Technical Indicators Fundamental Analysis AUDUSD audusdlong audusdshort RBA ratecut fundamental-analysis technicals Technical Analysis
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trendanalysis indicator fundamental audusd audusdlong audusdshort rba ratecut fundamental-analysis technicals technicalanalysis
AUDUSD is trending to the upside today ahead of US elections. A break above the resistance trendline could signal for buyers to drive price higher, likewise a rejection of the resistance line could signal further selling. We are bullish AUDUSD today as traders may look to reduce USD exposure approaching the elections. It is worth taking into account the RBA's rate cute today, from 0.25% to record lows of 0.1%. This would typically be bearish for the AUD.
Trade closed: target reached
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