Upside moves in the Australian Dollar (AUD) to 0.6795 against the US Dollar (USD) have been replaced by risk off, the AUD falling back to 0.6595 Tuesday morning. The safe-haven USD has come into play again after covid stricken China is again reporting its first deaths in over 6 months creating worry. Focus this week will remain on the Feb outlook with a slew of Fed members speaking amid expected volatility as the US breaks for Thanksgiving holidays. Overall risks in the cross remain to the downside with the recent rally stalling and the chances of an extension of the recent long-term decline.
Current Level: 0.6606
Last Weeks Range: 0.6632-0.6797