AUD/USD retreats from 6-1/2 month highs

AUD/USD dropped from the 6-1/2 month high of 0.7778 to 0.7730 after the early polls shows Trump is leading the way.

Treasury yields drop

The drop in the treasury yields and the Japanese Yen coupled with the uptick in gold points to risk aversion. No wonder the risk currencies like AUD have come under pressure.

As per the latest report, Trump has won in West Virginia, but has given up early lead in Florida, due to which the Aussie has seen a minor recovery to 0.7745 levels.

AUD/USD Technical Levels

Key resistance levels – 0.7778 (previous day’s high), 0.7836 (yearly high) and 0.79 (zero figure)

Key support levels – 0.7720 (5-DMA), 0.7672 (10-DMA), 0.7619 (50-DMA)