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Aug 17 - 06:55 AM

AUD/USD Drop To Nine-Month Low Fuelled By Kiwi's COVID Woes

By Rob Howard  —  Aug 17 - 04:35 AM
  • AUD/USD drop to 0.7278 (9-month low) spurred by NZD/USD plunge on COVID news

  • New Zealand's PM locks down nation over single COVID-19 case nL1N2PO04W

  • AUD/NZD up to 1.0541 (two-week high) vs 1.0420 Asia low pre-NZ COVID news

  • See: nL1N2PO0ES. 0.7300 and 0.7320 are now AUD/USD resistance levels

  • 0.7302 was Asia low (before NZ lockdown news). 0.7320 was Monday's low

  • RBA ready to act if lockdowns threaten economy nL1N2PO02KnL1N2PN2MZ

AUDUSD Click here

NZDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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