AUD/USD Signal - Donald Trump Worries USD Holders - Nov 03 2016

In the past five days, the AUD/USD pair has been consolidating as we can notice from the consolidation pattern that was repeatedly tested since between 14th till the 19th of October. The prospects for the pair going higher in the near feature have been subdued due to recent broad based US dollar weakness that was counteracted by declining risk assets such as commodities.

Looking at the more techical side we can notice that today the AUD/USD pair is tentatively rallying and it could be able to break above the 0.7685 level before the end of the day. Having all of the afore-mentioned in mind we could conclude that an appropriate target price would be the level of 0.7685 at which we would be buying daily calls heading into the 21:00 GMT expiration.