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Jan 31 - 08:36 AM

AUD/USD - October's Low Is Vulnerable As Virus Impact Persists

By Christopher Romano  —  Jan 31 - 07:45 AM
  • Coronavirus impact spreads locally nB9N28N00J & globally nL4N29Z4KC

  • Global bond yields, equities fall; copper HGv1 & oil CLv1 hold near lows

  • EM ccys sold for safe havens; options market expects deeper fall AUD1MRR=

  • AUD/USD slide extends to 0.6683, just 13-pips shy of 2019's low nL1N2A008F

  • Only a meager bounce off day's low, implies AUD/USD shorts remain confident

  • Monthly, daily RSIs say bear momentum still; daily oversold & not diverging

  • Break of 2019 low targets psychological 0.6600, 0.6565/70 eyed thereafter

chart: Click here

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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