• AUD/USD rose above 0.6600 level on Monday as investors attention turned to upcoming RBA rate decision and US election results.
•Kamala Harris and Trump remain virtually tied in opinion polls and the winner might not be known for days after voting ends on Tuesday.
• The Reserve Bank of Australia is widely expected to hold its cash rate at 4.35% for the eighth straight meeting on Tuesday.
• RBA policyremains driven by domestic data, events, and geopolitics. The outcome of the U.S. election and relationships with key trading partners will also impact the timing of any upcoming rate changes.
• At (GMT 04:22) Aussie dollar was trading at up 0.80 % at $0.6605 against the U.S. dollar.
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• Immediate resistance is located at 0.6618 (38.2%fib), any close above will push the pair towards 0.6655(20SMA).
• Support is seen at 0.6583(Daily low) and break below could take the pair towards 0.6556 (23.6%fib).
Recommendation: Good to buy around 0.6600, with stop loss of 0.5900 and target price of 0.6650
