Australian Dollar Drops Amid Risk Aversion
11 Julho 2022 - 3:51AM
RTTF2
The Australian dollar fell against its most major counterparts
in the European session on Monday, as a rise in COVID-19 cases in
China and the energy crisis in Europe dampened risk sentiment.
China's commercial hub of Shanghai is bracing for another mass
testing campaign after the discovery of a new subvariant Omicron
BA.5.2.1. This has intensified the lockdown worries in the
city.
Russia stopped gas exports through the Nord Stream gas pipeline,
heightening a gas crisis in Europe.
Investors fear that Russia may extend the scheduled maintenance
period in an attempt to destabilize Europe.
Commodity prices fell amid concerns over a global recession and
the implementation of fresh COVID-19 curbs in multiple Chinese
cities.
The aussie dropped to 4-day lows of 0.6782 against the greenback
and 1.1032 against the kiwi, reversing from its early highs of
0.6855 and 1.1076, respectively. The aussie is likely to find
support around 0.64 against the greenback and 1.07 against the
kiwi.
The aussie was down against the loonie, at a 6-day low of
0.8823. On the downside, 0.86 is possibly seen as its next support
level.
The aussie retreated to 92.92 against the yen, from a 6-day high
of 93.69 seen in the previous session. The next likely support for
the currency is seen around the 90.00 level.
Against the euro, the aussie remained lower, with the pair
trading at 1.4888. The aussie is seen locating support around the
1.53 mark.
AUD vs CAD (FX:AUDCAD)
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AUD vs CAD (FX:AUDCAD)
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