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Nov 08 - 01:55 AM

AUD/USD - China COVID Fears Tug AUD/USD To Edge Of Losing Bullish Bias

By Ewen Chew  —  Nov 08 - 12:50 AM
  • AUD/USD slides to 0.6449, on brink of losing key support

  • Tues close below 0.6442 nullifies Bollinger uptrend channel

  • That will inform longs that upside odds have diminished

  • Further capitulation may pull it down to 23.6% Fibo 0.6396

  • Risk aversion simmering as China stocks retreat 0.9%

  • Sharp rise in daily COVID cases cues lockdown fears nL1N32407U

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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