The Coronavirus in China intensifying we could see the AUD losing further momentum. A global slowdown would leave iron ore-rich Australia in a bad shape and rumours of an interest rate adjustments are on the table as well. Should the pair break the 0.6700 support we might see markets heading lower towards the next psychological support at 0.6350, which goes way back to the aftermath of the financial crisis in 2008. This might take some time but markets are looking ugly here.
