AUDUSD falling amid global risk-off mood.
AUDUSD under bearish pressure today under the dual effect of the strong Australian dollar bearishness and the equally strong USA dollar bullishness. Both of these sentiments are the result of the latest deterioration of the risk sentiment across the global markets due to a number to factors. Falling stock markets in the United States on Wednesday, in Asia overnight, and in Europe on Thursday contributed to the risk-off sentiment. Overnight losses on the Wall Street were spurred by concerns over high valuations and a second wave of the coronavirus. The other factor is the fact that European Union and AstraZeneca failed to make a breakthrough on Wednesday over delayed COVID-19 vaccine deliveries – threatening the vaccination programme in Europe and the jeopardising the recovery there.
Expect sellers on upward corrections.
Next support to watch – 0.7555
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