It has been almost one-way traffic on AUD/CNY so far this year, as analysts at Westpac Institutional Bank note. The AUD/CNY pair is trading at 4.142. Key quotes “AUD/CNY was broadly range-bound between 4.70-4.90 for much of 2019 but broke sharply lower in late January 2020 as the Covid-19 outbreak in China was seen as having a disproportionately large impact on Australia’s economy.” “Just in the past few days AUD/CNY has slipped into ranges not previously seen since the de-peg.” “Near term risks are for further decline, to AUD/CNY 4.10 or lower. But multi-month we expect some AUD recovery as USD loses strength and China’s rebound supports Australia’s resources exports.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Market behaviour in last crises FX Street 2 years It has been almost one-way traffic on AUD/CNY so far this year, as analysts at Westpac Institutional Bank note. The AUD/CNY pair is trading at 4.142. Key quotes “AUD/CNY was broadly range-bound between 4.70-4.90 for much of 2019 but broke sharply lower in late January 2020 as the Covid-19 outbreak in China was seen as having a disproportionately large impact on Australia’s economy.” “Just in the past few days AUD/CNY has slipped into ranges not previously seen since the de-peg.” “Near term risks are for further decline, to AUD/CNY 4.10 or lower. But multi-month we expect some AUD recovery as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
