Australian Currency In Uptrend Amid Coronavirus Fears

Astonishingly enough the AUD is doing quite well during the Asian(Tokyo) session. I had thought that it would continue to fall but it appears that some of the fears from the Coronavirus and the economy have been priced in from last week. The AUDUSD moved up to .6616 after a few hours of Asian trading. There was a report from the WHO that said the Coronavirus had peaked in January. So it could be a bit of profit taking from last week and the thought that the worst of the virus has come already. I am going to resist the temptation to jump into this trend until I see more traditional signals in the market. More strength from the four hour and hourly trends flowing back to the daily readings. New Zealand's currency is also doing quite well a few hours into the Asian session despite fears from Coronavirus.

AUD Coronavirus

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