fbpx

AUD/USD – Risk-Off, Weak Kiwi See Bears Take Control

June 25, 2020

The Australian Dollar fell following a souring of risk appetite from reports of rising Covid-19 infections in several US states and other global hotspots. AUD/USD slumped 1.1% to 0.6870 in late New York from 0.6930 yesterday. Victoria, the country’s second most populous state, reported a rise of 20 new infections and one death yesterday. It was the 8th consecutive day that the state reported double-digit cases. Last night supermarket giants Coles and Woolies reintroduced purchase restrictions in the state after experiencing high demand for certain items (toilet paper, hand sanitiser, flour, pasta etc).

AUDUSD IG DailyFX 1H Chart – 25 June 2020

The Aussie Battler will remain pressurised on the broad-based US Dollar strength and weak New Zealand Dollar. AUD/USD has immediate support at 0.6860 (overnight low 0.68625). The next support level comes in at 0.6830 and 0.6800. Immediate resistance can be found at 0.6890 and 0.6910. Look for the Aussie to consolidate within a 0.6800-70 range today. Prefer to sell rallies.

Is this article Helpful?

Total Views: 130

Sign up to My Spread

Easter Monday holiday

MARKET WRAP Friday, September 18th

Yen rallies post-BOJ & UK retail sales Stock markets tip lower after conflicting messages on when a vaccine will become available. The Japanese yen has popped to a 6-week high …

Most Viewed Articles

Most Popular Articles

Technical Analysis

Ichimoku Cloud Analysis for Thursday, September 17th

EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1764; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may …

Latest Market Commentary

MARKET WRAP Friday, September 18th

Yen rallies post-BOJ & UK retail sales Stock markets tip lower after conflicting messages on when a vaccine will become available. The Japanese yen has popped to a 6-week high …

Popular Articles about Trading

No Result found