FXWIREPRO: AUD/USD OPENS THE WEEK ON A BEARISH NOTE, RISING COVID SPREAD DENTS RISK APPETITE

19 July 2021, 07:16AUD/USD chart - Trading View AUD/USD has opened the weeks trade on a bearish note, down 0.09% at 0.7385 at the time of writing.

The Australian dollar remains depressed as rising coronavirus cases weigh on markets risk appetite. The Covid delta variant has exploded in the UK and investors remain concerned for the slower pace of growth.The number of exposure sites jump in , and lockdowns have been extended.

 Markets extend Fridays sullen mood. Technical indicators for the pair also are bearish. Price action is below cloud and major moving averages on the daily charts.On the weekly charts, the pair has dipped into the weekly cloud and is set to extend downside.

 Price action has slipped below 0.74 handle, is extending weakness below 23.6% Fib. Scope for test of 110-week EMA at 0.7306.

Reference :

meta trader 4 News , 19 Juli 2021