The Australian Dollar rose by 139 pips or 1.98% against the US Dollar on Tuesday. A breakout occurred through the upper boundary of a descending channel pattern during yesterday’s trading session.
Bearish sentiment dominate the exchange rate during the first half of Wednesday’s trading session. Bears are likely to continue to pressure the AUD/USD currency pair lower until the end of the day.
However, the US presidential election results might play an important roll in the overall movement of the market within this session.
