With the outbreak of the virus continuously intensifying in China, another US trade-reliant partner, Australia, keeps being under pressure. The AUD is therefore on a downturn again, especially after the retest of the current resistance around the 0.6770 level.
We are already short on the pair with another and price looking good at current levels, especially if the longterm charts move down towards the 0.6550 level over time. The slide could intensify if Coronavirus pandemic fears reignite, with the death-toll being on the rise, this is not such a remote scenario.
