AUDUSD H1 AnalysisThe biggest story during the Asian session is the Hubei province reporting 14,840 new confirmed Coronavirus cases after China adopted a new diagnosis classification. For comparison, there were only 1,638 new cases from the area yesterday. Yikes!
Now that most of the major central bankers have shared their two cents, it makes sense for markets to turn their focus back on the disease that’s threatening global growth. Unfortunately, it doesn’t look like we’ll see the end of the theme anytime soon.
This is why AUD/USD’s downtrend is more interesting today.
If you believe that risk-averse theme from today’s Coronavirus headlines is just getting started, then you can jump in on AUD/USD’s downtrend and aim for new February lows. That’s below 0.6670
