AUDUSD appears to have exhausted the upward momentum it has built up since the peak of the coronavirus crisis when the currency pair had dropped to as low as 0.55. After struggling to consolidate above key resistance at 0.7 there is downside potential in particular due to fears of a second coronavirus wave in the coming months and the subsequent impact on the global economy.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.