AUD/USD has tumbled down to the lowest since 2009 amid coronavirus fears and other factors. Late February’s daily chart is pointing to the downside, according to FXStreet’s analyst Yohay Elam. Key quotes “The Relative Strength Index on the daily chart has dropped below 30 – indicating substantially oversold conditions.” “Momentum remains deeply to the downside, and the A$ is trading well below the 50, 100, and 200-day Simple Moving Averages.” “Overall, there is a likelihood that an upswing is on the cards, but that the trend is to the downside.” “The new low of 0.6585 provides initial, yet weak support. Further down, 0.6550 and 0.65 may slow the fall.” 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 Gold Price Analysis: XAU/USD unstoppable, breaks to fresh 2020 highs, approaching $1650/oz FX Street 2 years AUD/USD has tumbled down to the lowest since 2009 amid coronavirus fears and other factors. Late February's daily chart is pointing to the downside, according to FXStreet’s analyst Yohay Elam. Key quotes “The Relative Strength Index on the daily chart has dropped below 30 – indicating substantially oversold conditions.” “Momentum remains deeply to the downside, and the A$ is trading well below the 50, 100, and 200-day Simple Moving Averages.” “Overall, there is a likelihood that an upswing is on the cards, but that the trend is to the downside.” “The new low of 0.6585 provides initial, yet weak support.… 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.
