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Day: March 2, 2020
March 22020
Chinese Yuan Sinks As Purchasing Indexes Crash to Record Lows
The Chinese yuan is sliding against most major currencies to kick off the trading week as the latest economic data highlighted just how damaging the fallout of the coronavirus has been to Beijing. It may be some time until China fully recovers from Covid-19, especially with hundreds of new cases being reported. Plus, the outbreak appears to have spread worldwide, causing consternation about global supply chains and the near-term […]
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March 22020
AUD/USD Still to Fall from 0.6500?
The Australian dollar versus the US dollar currency pair extended to as low as 0.6433. Is this the end of the road for this depreciation? Long-term perspective After confirming the resistance area defined by 0.7055 and 0.7013, the price started to fall towards the major support of 0.6850. As the price reached the support, the head and shoulders — shoulders marked by the highs of 0.6938 and 0.6933, respectively — was ready to let its message print on the chart. The 0.6850 support — which also served […]
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