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AUD/USD bounces from a fresh one-decade low

  • Dollar gives up some ground as NY Fed announces measures to palliate crisis.
  • Wall Street bounced, three mayor indexes deep in the red anyway.
  • AUD/USD bounced from multi-year low, remains in bearish territory.

Relief news coming from the US are helping AUD/USD to bounce from 0.6265, its lowest since March 2009. The NY Fed will offer $500 Bln in a three-month repo operation later today, in an effort to counter the coronavirus-related crisis.

Wall Street bounced from multi-month lows, although the three major indexes remain roughly 6.0% lower in the day, somehow indicating that the chaos is far from over, and that market players are rather making a pause.

As for the AUD/USD pair, it is trading at around 0.6350, in the red for a fourth consecutive day. An immediate resistance level comes at 0.6385, the peak of the current session, followed by 06420. Supports come at 0.6305 and the mentioned daily low at 0.6265.

 

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