AUD/USD Outlook (20th May 2019)

• Australian Federal Elections 2019
  
• AUD/USD testing key level
  

Price Movement
Since last Friday, AUD/USD moved down by around 30pips before gapping up by around 50pips due to the Australian federal elections over the weekend.

Trend
AUD/USD is trending downwards.

Important Issue
Over the weekend, Australia’s Prime Minister Scott Morrison led the Coalition to victory in the 2019 federal election, winning a third three-year term against the Labor opposition.

Technical
AUD/USD is currently testing the 0.69 key level.

Price Levels
Current Price: 0.69150
Next Resistance: 0.69573
Next Support: 0.68550