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Feb 26 - 06:12 AM

AUD/USD - Holds Below 0.6585 After Drop To New 11-Year Low

By Rob Howard  —  Feb 26 - 04:40 AM
  • AUD/USD ran into resistance just shy of 0.6585 after ticking up from 0.6569

  • 0.6569 = fresh 11-year low in early European trade. 0.6585 was Monday's low

  • Risk-sensitive AUD is suffering on the coronavirus spread nL3N2AP0BC

  • S&P e-mini is currently down 0.5% (having been up 0.5% earlier)

  • S&P 500 fell by 3% on Tuesday for the second day running nL5N2AQ2CV

  • Bids may emerge near 0.6550 and 0.6500 if AUD/USD extends south

AUDUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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