TECHNICAL ANALYSIS

AUD / USD approaches recent lows as mood continues to deteriorate


Hopes of stimulation fade

Hopes of stimulation fade

Leaked comments from Pelosi’s interview with his Democratic caucus have led the market to conclude that a stimulus deal is not forthcoming. The result is a horrendous 1.65% drop in the S&P 500 that spills over into commodity currencies.

AUD / USD is at daily low, down 17 pips to 0.7063. Technically, this threatens the lows of last week. A failure could bring it down to 0.7000.

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close