AUD/USD bears heading for 0.70 psychological level
AUD/USD is currently trading at 0.7055 between a range of 0.7038 and 0.7157.
The COVID safe-haven has been the major culprit for the slide in the commodity complex as the euro plummets to one-week lows on prospects of a national lockdown in both Germany and France. AUD's weakness can be directly related to weakness in commodities.
Reserve Bank of Australia will be unimpressed with the yearly result in the trimmed mean, which will likely be playing a role in AUD's softness, if not only to help justify some of the recent weakness.
AUD/USD is back on the defensive and bears look for downside extension.
The COVID safe-haven has been the major culprit for the slide in the commodity complex as the euro plummets to one-week lows on prospects of a national lockdown in both Germany and France. AUD's weakness can be directly related to weakness in commodities.
Reserve Bank of Australia will be unimpressed with the yearly result in the trimmed mean, which will likely be playing a role in AUD's softness, if not only to help justify some of the recent weakness.
AUD/USD is back on the defensive and bears look for downside extension.
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