Early results from US midterm elections suggest that Republicans will get control over the House while Democrats will have control over the Senate. Such an outcome - split power in Congress - was expected and therefore we do not observe any major moves on the markets. However, it should be noted that as more results start to come in and they start to point to other outcomes than expected split in Congress, volatility on the markets may pick up.
The US dollar index (USDIDX) is trading little changed on the day. The index tested support zone ranging above 23.6% retracement of the upward move launched at the beginning of 2021 but, so far, failed to break below. Note that this zone is also marked with the upward trendline. Another point to note is that the index has broken below the lower limit of a market geometry earlier this week, signaling a potential shift to a downtrend.
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Source: xStation5
