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Jan 30 - 12:12 AM

AUD/USD - China Virus Drags AUD Lower - Next Stop 0.6670

By Andrew M Spencer  —  Jan 29 - 10:05 PM
  • Off 0.25% with AUD/JPY -0.35%, as stocks and risk remains under pressure

  • Moderate interest, with a fresh 0.6733 trend low after touching 0.6754 early

  • Escalating China virus is undermining risk & global growth prospects

  • Aus heatwave conditions to return today fuelling wildfire fears nL4N29Y4XY

  • Ois suggest Feb 4 RBA unlikely at 10.6%, so risk and the USD to drive AUD

  • Charts - momentum studies, 5, 10 & 21 DMAs track south - bearish setup

  • Next significant support come in at the 0.6670 October and 2019 low

  • Close above 0.6790, 61.8% of this weeks fall would undermine downside bias



aud jan 30 Click here

Source:
Refinitiv IFR Research/Market Commentary

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