AUDUSD Slumps to 17-Year Lows

AUSUSD is under extreme selling pressure as the US dollar surges on funding stress across the globe. The coronavirus outbreak has triggered a global sell-off in risky assets as investors running for cover. The US dollar funding situation getting worst despite the intervention by central banks around the globe. 

Earlier today reported that the Australia House Price Index (QoQ) came in at 3.9 in line with expectations for the fourth quarter, the yearly reading came in at 2.5% above the previous reading of -3.7%. 

On the technical side, AUDUSD’s first support stands at 0.5992 the daily low which is also fresh 17-years low. The next support will be met at the 0.5950 mark. On the other hand, an initial resistance is seen at 0.6147, the daily top. More offers would be met at 0.6277 the high from yesterday’s trading session. 

AUDUSD Daily Chart
AUDUSD Daily Chart

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